And could be downloaded there

The Apple iPhone 3G revolutionized the mobile phone industry by breaking the rules and taking telecommunications technology a notch higher. This phone has it all—it is equipped with e-mail, web-browsing, and local Wi-Fi connectivity among others. The iPhone 3G has faster 3G data speeds compared to its 3G-capable counterparts.

Another function that made this phone exceptional is its Assisted GPS (A-GPS) feature. This built-in feature allows users to use GPS to locate the nearest hospital, gasoline station, bank and other important places. iPhone 3G also has up to 5.5 hours of talktime and about 72 hours of standby time. In addition to these features, the screen of this phone is ideal for viewing images and watching videos from the Internet.

This phone is specifically designed to enhance mobile phone experience in the 21st century. This phone is one of the easiest phones ever with a touch screen feature that allows users to make selections by simply touching the screen. iPhone, iPhone 3G's predecessor, was Time Magazine's 2007 invention of the year. The latest iPhone is out to outdo its predecessor's success.
Now, what we'll have:

3G
GPS
Video Camera
Improved everything

AND…

8GB version for $199 and 16GB version for $299!!!

check the full log of live translation from WWDC'08 HERE