Apple has been granted a patent on the design of the iPhone that has one significant omission. As you can see from the line art below, the patented design lacks the home button all iPhone and iPod touch users are familiar with.
Honestly that home button is the only thing that really mars the cool seamless look of the iPhone screen; I like the design better without it. The other familiar ports and buttons are on the line art.
Let me weave a bit of rumor tapestry for you here. We know that Apple filed a patent recently on tech that was for hidden controls. If you combine the hidden controls patent app with the patented Apple design form factor we may well have a future Apple device with a seamless screen and a virtual home button. On the other hand, we could simply be seeing an old design that Apple submitted before deciding they needed a home button.