If you don’t follow this kind of thing, the second generation of the iPhone was announced last night, our time.

It has some great new features, including GPS (which most people didn’t think it would have), 3G (which everyone knew it would have) and longer battery life (which everyone was hoping it would have).

The best, best thing, though, is that instead of being US$499 and US$599 like the first iPhone, this one will start at US$199 and US$299! That is incredible value.

Here’s a wrap up of the new phone and a live blog of the keynote.

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