Finally

Highlights from the Wall Street Journal's liveblog on the iPhone 4 announcement.

Only at a geek-fest like this would you encounter a men's-room line out the door next to an apparently deserted women's restroom. What, Jobs didn't import a bank of iUrinals?

The crowd is going nuts as Steve Jobs takes the stage. The cell phone truly is today's cigarette lighter in concert halls.

Mr. Jobs declares: "We're going to take the biggest leap since the original iPhone ... this is really hot ... well over 100 features."

There's a camera and LED flash. There's a microphone, headset and a sleep-wake button.

The "retina display" has 326 pixels per inch. (There's clapping at this.) Mr. Jobs says it turns out that 300 is the limit of the human retina to differentiate the pixels. They're so close together at 326 that all of a sudden it looks like continuous curves, he says.

The biggest single component in the phone is the battery, and because the A4 chip is so good with power management, users will get up to 40% more talk time (5 hours to 7 hours), 10 hours of Wi-Fi browsing, 10 hours of video, 40 hours of music and 300 hours of standby.

The company is adding a gyroscope, which will make the phone even more motion-sensitive….which allows for much finer motion and position sensing than previous phones, which used just an accelerometer.

The camera system. There's a three-megapixel to a five-megapixel sensor, and a backside-illuminated sensor (which involves capturing more photons). There's a 5-X digital zoom, tap-to-focus capability and an LED flash. It also records HD video.

We can now search from Google, Yahoo or Bing.

iBooks is coming to the iPhone.

Steve Jobs just used his iPhone 4 to enter a contest to win an all-electric Nissan Leaf. Good luck, buddy! I hope the universe finally starts smiling on you ...

“One more thing”: Video calling is called FaceTime. You can use the front and rear camera, portrait or landscape. It's available Wi-Fi only in 2010.

Apple could have omitted half the features, and I would still upgrade. The cost is $199 for a 16GB model and $299 for a 32GB, plus a two-year AT&T contract. My old 3G is getting a bit creaky.