Our source who played with the 3G iPhone told us explicitly there is no front-facing videoconferencing camera.
Even still, when we were ferreting around the new 3G iPhone firmware today, we were keeping an eye out for altered or additional camera drivers, something to indicate a front-facing camera. Nothing.
The text explanation for Exchange and iChat are so bad as to make the whole thing unbelievable. (Apple's doing video chat for Windows? Huh?) But that's not all!
Say, wouldn't that exchange logo be in the Apple banner that's up at the Moscone right now? All the other iPhone icons are.
No Apple design would be laid out the way this guy's got his page laid out here.
Bottom line: looks pretty, but so very fake.