repair site iLabFactory, which seems to have seen demand kill its bandwidth, and its server: the site is down, currently. You can see a slideshow of some of the images here.
The image of the fully assembled product (above) seems to show a number of already expected and rumored changes. You can see a smaller dock connector, a centered FaceTime camera and a headset jack at the bottom of the device, changes that have been rumored for some time.
The actual shape of the device seems pretty similar to the iPhone 4S. The device appears to have the elongated screen with the new aspect ratio that has also been rumored, though there is no way to "measure it." The new screen is reportedly 4-inches diagonally, with the aspect ratio changed, not just to reduce the size but to better match HD video.
There's also no way to see the internal changes that have been rumored: quad-core processor based on the Samsung Exynos, in-cell touch panels, LTE, and still more.
Our thought, though, has always been an iPhone 5 no earlier than September or October. The reason we believe that is because otherwise the iPhone 5 would be delivered too soon with regard to the iPhone 4S. Apple wouldn't want to tick off current owners of the iPhone 4S.
Once again, however, despite the expected thinner iPhone (due to the in-cell touch panels), larger screen, and other changes, it doesn't really look significantly different, and if we were looking for an upgrade, we'd want a decent-sized change in appearance.
That's one good thing about Android: there's no lack of different form factors. On the other hand, all those different form factors and hardware options translate to Android fragmentation.
At any rate, we expect no end to these rumors, leaks and images until the iPhone 5 launches (along with the iPad mini). Then we expect to see rumors of the iPhone 6 to begin.