Friday Fun Rumor: 3D Turn-By-Turn GPS Navigation for iPhone Post 2.2?

Huge rumor. No corroboration. Not journalism. Posting this from a first time, antonymous tipster and if it doesn't pan out... well... I'll be boiled in clam chowder eventually anyway... But it's Friday and this is FUN. Of course, Dieter already told us about the complicated legal quagmire surrounding turn-by-turn GPS, but dagnabit, we wants it!
Apple has begun quietly demonstrating an internally developed iPhone GPS Navigator program that includes turn-by-turn, 3d views etc. Visually, it is very similar to Tom-Tom, but with the expected Apple eye candy. They were sketchy about the details, but it seem that this will not be part of the core software (I.E. they intend to charge for it). It was also unclear whether they were using cellular-based data to share traffic information, but some of the screens seemed to indicate that it would.
Our nameless could be friend -- might be prankster -- says this will be released after 2.2, but in time for the holidays.
Are we getting played? Or is this happening? Again -- not news, not reliable leakage, but pure rumormongering at its most unsubstantiated. Take it for what that's worth.
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Rene Ritchie is one of the most respected Apple analysts in the business, reaching a combined audience of over 40 million readers a month. His YouTube channel, Vector, has over 90 thousand subscribers and 14 million views and his podcasts, including Debug, have been downloaded over 20 million times. He also regularly co-hosts MacBreak Weekly for the TWiT network and co-hosted CES Live! and Talk Mobile. Based in Montreal, Rene is a former director of product marketing, web developer, and graphic designer. He's authored several books and appeared on numerous television and radio segments to discuss Apple and the technology industry. When not working, he likes to cook, grapple, and spend time with his friends and family.