Will the iPhone 4G have a front facing camera / webcam?
Gizmodo acquired the next-generation iPhone and verified a front facing camera is indeed present in the hardware. Although the iPhone 4 they dissected was wiped, the hardware is believed to be a very late stage prototype. iPhone OS 4.0 has numerous references to video iChat and matching sound effects and graphics have been discovered.
The current answer is unknown. Snippets of code in the iPhone OS 3.2 SDK (software development kit) have pointed to video conferencing capabilities. That being said, the 3.2 operating system is only expected to release on the Apple iPad.The next generation iPhone will likely launch with iPhone OS 4.0. Photos from parts suppliers that are allegedly the front screen of the iPhone 4G are 1/4 inch (6 mm) taller than current iPhone models. Some reports have speculated that the extra space could be for a front-facing camera.
AT&T is loosening bandwidth restrictions on 3G network applications such as SlingPlayer and Fring, so a mobile version of video iChat should be technically feasible.
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We will update this question as new information is available.