Well, the speculation i posted before is coming true, according to IPodTouchFan. The new IPhone OS, dubbed as IPhone 3.0 which will bring lots of new features to all IPhone and IPod will be ready on June.
The price will vary. It will be free for iPhone and $9.95 for iPod touch. It will be compatible with 1G iPod touch, 2G iPod touch, iPhone, and 3G iPhone even though you may not get all the features if you are using 1G iPod.
Check this forum for more information about the features