After what seems like years of rampant speculation, the Apple branded iPhone has finally seen the light of day. During the annual Macworld convention keynote speech, Apple CEO Steve Jobs introduced the elusive device.

Utilizing multi-touch technology on a widescreen device, the phone went beyond even the most outrageous conjecture about its features. The phone has leapfrogged the competition with its seamless integration of iPod and phone with video capabilities, internet connection and incredible multi-touch-screen technology.

Play music, watch videos, email photos, surf the web, utilize widgets, conference call and send text messages using the onscreen touch keyboard. The list of capabilities goes on and on. All of wrapped in Apple's easy to use OS X operating system, which has been scaled down for the phone.

Apple has partnered exclusively with Cingular for the device. Pending FCC review, the phone is set to hit the streets in June with a price tag of $499 for the 4GB model and $599 for the 8GB model. No word on whether the phone will be eligible for price reductions based on your contract length.

You have six months to save up the cash and to dump your current provider.