Daring Fireball's John Gruber has weighed in on the supposed iPhone 5 leak from earlier today, saying the iPhone 5 has not yet gone into production, and throwing cold water on the idea that the overall form factor will be larger.
Longer and wider? Sounds like bullshit. I can see Apple putting a bigger display on a device of the same size. I can’t see them making a bigger device.
iMore has independently heard that the iPhone 5 may stay on a fall schedule, similar to the iPhone 4S release in October of 2011. That makes a certain amount of sense, given how well Apple's iPhone 4S sales persisted despite a 15 month window between launches last year. A June/WWDC 2012 launch would be only 9 months between devices, and might not maximize Apple's earnings potential. However, with Android 4.0 devices expected to hit the market starting in the March quarter, competitive pressure won't be letting up any time soon.
As to the design, Apple has had multiple prototypes in contention before, including more conservative and more audacious models. If fall 2012 is and remains the target, it's likely far too early to tell much if anything for certain. However, a similar sized device with as big a screen as Apple can fit into it certainly sounds nice.