Today appears to be rumor day over at Cupertino, folks. If we'd known ahead of time, we would have done a roundup at the end of the day. AppleInsider has a source that's reporting that at least one of Apple's upcoming iPhones will feature video recording.
The information comes from a person "extremely reliable" when it comes to predicting Apple's hardware changes, which is why it's ended up on the front page, added to the fact that they mentioned "at least one upcoming iPhone". The new iPhone is due out this year, and will also feature extremely improved hardware to support better game on Apple's mobile device. This suggests new graphics and a new processor, which will help in other areas that aren't gaming.
Video recording has been one feature many have criticized the iPhone for lacking, and Apple has taken this long to do so because it wants to "get it right". Perhaps this means it will include editing tools, or other features, because there's not much else to get wrong about recording video.
Evidence of this being included in the next iPhone is in the recently released iPhone 3.0 beta, which has a MobileMe panel labeled "Publish Video". This, combined with the supposed wireless speed increases in the rumored upcoming iPhone, could mean video conferencing or other features.
So there you have it. Pretty strong evidence about Apple's plans, so it won't be surprising to see any announcements when they are made.