Despite some rumors to the contrary, according to our sources Apple still hasn't finalized the design of the next generation iPhone 5 (or whatever Apple ends up calling iPhone 5,1). No giant screen. No 16:9 aspect ratio. No metal back. At least not yet.
Apple typically makes extensive use of the prototyping process, which could well be the source of inconsistent rumors (perhaps best seen in the conflicting iPhone rumors last year). Sometimes there are more audacious and more conservative prototypes, with the final choice coming down to component costs and device tests.
Once again we're hearing that if the screen size does change, it won't be by a lot (no larger than 4-inches). Currently, the new, smaller dock connector is being implemented, but no changes to screen size or aspect ratio have been decided on. And yes, it still has a Home button.
Keeping the Home button also necessitates certain design trade offs (everything has an opportunity cost) when it comes to overall device size and screen layout.
October is still the planned launch period, alongside the 7-inch iPad we reported on yesterday, and Apple is indeed planning to hurt Google with this release by removing their data pipe into (and out of) the Maps app. (Which we, like others, have heard is terrific looking.)
iMore previously heard the iPhone 5 was going to ship with an LTE radio as well.