Just like a proposal from a guy you’ve been dating a decade, we knew this one was coming it was just a matter of when. This morning Apple went ahead and made our love official by announcing iPhone 4.

The newest member of the Apple family is slated to launch June 24th with quite a few upgrades from the iPhone we’ve become accustomed to.

Better Reception: While the new iPhone will still use the same GSM / UMTS radio as the old, iPhone 4 will come wrapped in an antenna in the form of the stainless-steel band wrapped around its exterior. While this doesn’t necessarily guarantee better reception, it certainly can’t hurt.

Camera Upgrades: Just as anticipated, iPhone 4 has a front facing camera for video chatting as well as a rear-facing camera with an LED Flash. The camera resolution has also been raised to 5-megapixels, with a 5x digital zoom available as well. Videos can now be recorded in high-definition 720p/30fps.

High-Resolution Display: The new display has four times the overall pixel count of the iPhone 3G, 960 x 640, with a contrast ratio of 800:1. Apple claims the new “Retina Display” is beyond the human eye’s level of distinction.

Longer Battery Life: Apple reports the iPhone 4 as being capable of 7 hours of 3G talk time, 10 hours of WiFi browsing, 6 hours of 3G browsing, 10 hours of video playback, and 40 hours of music playback.

Software: Users will have the option to purchase a new iMovie app for $4.99 for their phone to do video editing on the fly, and will also have the option to call other iPhone 4 users using the forward-facing camera and a new FaceTime feature.

The new phone will go on sale June 24th in both white and black in the US, France, Germany, UK, and Japan with 18 more countries expected to be added in July. Pre-orders will start for the device next week. Who’s getting one?