Is the iPhone worth the wait since there's gonna be (rumors) about iPhone 2

Should i wait, or can i finally buy it and end my never ending longing for it

thegodfather151,
When Steve Jobs was asked about if Apple was working on the next model during the announcement of the O2 as the UK carrier he answered somehting along the lines of, "Yes, and the next one after that." When asked about when there would be more information he said something along the lines of maybe next year, meaning 2008.
Do you hold off buying a car because the 2009 models might have something you want? Even if the changes to the next model are not known yet? No, you evaluate the current models against your needs and wants, and make a decision.
It is the same thing with electronics. There will always be new models at some point in the future. Does the product today meet your needs and wants? If so, purchase it today.
Hope this helps,
Nathan C.

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