iOS 5 had 10 improvements featured, hopefully Apple kept something good up their sleeve!
These references point to the N94 iPhone, which is expected to be the iPhone 4S. Many believe this version (N94) is a slightly redesigned iPhone 4 to enable CDMA/GSM worldphone capabilities into the current iPhone 4. According to many different case designs, it is expected that the iPhone 4GS or iPhone 5 will be more than a slight redesign.
iOS 5 is jailbroken in the current version available to developers (beta 7), with an announcement in June from Apple stating that iOS 5 availability would occur this fall.