This morning Apple announced the availability of new iPhone and iPod Touch models. The newest version of the iPhone clocks in at 16 gbs for the price of $499. In addition, Apple also released a new iPod Touch model that can hold 32 gbs of content, also for the price of $499.
These models join the 8 gb iPhone, and the 8 gb and 16 gb iPod Touch models in the line up. They are available immediately from the Apple Store.