Apple has made an honest phone of the iPhone 4. Steve Jobs officially announced the iPhone 4 today during the WWDC 2010 keynote address.

It’s a beauty of a phone – the same phone Gizmodo leaked in April. With it comes a whole host of new features, including the long-rumored ability to make video calls. It is far and away the best phone on the market to date (more on that later), with a feature list that will make all the EVO 4G freaks go, “Oh…you have that too.”

From the outside, you can see that the iPhone 4 is thinner even than the 3GS. It now features a front-facing video cam for the video calling service, “FaceTime.” Both the front and back of the phone are made of a slate of glass. The camera on the back has been upgraded to five megapixels, records 720p video at 30 FPS, and has an LED flash. Apple also added a second microphone for noise cancellation during calls, a welcome feature.

On the inside, you’re looking at an A4 processor – yeah, that’s the same thing that runs the iPad – a larger battery, and an antenna system that has been integrated into the body of the phone. Storage capacity remains the same, at 16GB or 32GB, which has always seemed like plenty to me. There’s also a gyroscope along with the accelerometer, giving the phone six-axis sensitivity which is great for gaming and trainer apps among other things. The display on the iPhone 4 now has twice the pixel density of the 3GS. That’s huge, especially with the news that Netflix is coming to the iPhone later this summer.

On the whole, it’s a great update to an already great device. I’ll have more posts throughout the day detailing the changes so stay tuned. The iPhone 4 will be available for pre-order on June 15th, on sale June 24th.