The market is buzzing with anticipation over a 3G iPhone. Steve Jobs is expected to unveil the device on Monday when he speaks at Apple's Worldwide Developer's Conference. I wanted to take a step back and offer a few observations on the buzz-phenomenon that is presently occurring.

Recall that the current iPhone uses EDGE, a 2.5G technology with limited bandwidth capability. The new 3G iPhone will boast WCDMA. Now given the amount of anticipation and buzz, you might think that WCDMA is a breakthrough technology bravely being pioneered by Apple. The truth, of course, is that WCDMA is nearly a decade-old technology. The first 3G networks & handsets became available in 2001 when NTT DoCoMo launched service in Japan. Yes, that's right. Apple's much anticipated, super-blockbuster announcement is that it's iPhone will be upgraded to a decade old technology.

The impressive feat in my opinion is not that the iPhone will be 3G, but that Apple has somehow managed to convince everyone it is an important market development. Kudos to Apple for a job well done. With this success under their belt, I would like to challenge Apple to an even more impressive feat: reinvent the wheel and make it look like a momentous leap in technological evolution. I can see the headlines now: Market Eagerly Anticipating Apple's New Wheel

Now that would be impressive... any takers???