Remember the recent iPhone 4 “prototype” leak that was buzzing across the interwebs? Well, it’s official – the “prototype” was indeed FROM Apple, it wasn’t a hoax and Steve Jobs just got down with its European breakthrough release in his keynote speech held at the Apple Worldwide Developers Conference (WWDC) last June 7.

The iPhone 4 combines all the aesthetics and functionality any consumer would expect from Apple. The OS, however, was revamped and given a new name: iOS 4. The software update’s two major distinctions are: the ease of multitasking and App folders: both enough to please App hoarders and tech savvy multitaskers.

The iPhone 4 has loads of new and improved features the average consumer had eagerly failed to expect from its predecessor, the iPhone 3GS. One notable feature is the thinner profile of the new iPhone, measuring only 9.3mm, heavily contrasted to the much thicker (12.3mm) iPhone 3GS. The exterior of the iPhone 4 has undergone a major overhaul – aluminosilicate glass is the material being used for the backplate of the new iPhone. The material is 30 times more resistant to breakage and scratches than regular plastic surfaces used on competitor phones.

Battery life has also dramatically improved from the usual talk time of seven hours, the iPhone 4’s battery life is now rated at an optimal degree of 40 hours of talk and 10 hours of video playback (optimum LED brightness, of course). People can now do more with their iPhones, considering that battery life was once a derogatory term when paired with Apple’s products.

The iPhone 4 offers, by far, the sweetest eye candy any handheld device could give. The rich 960×640 LED backlit display, paired with a 800:1 display contrast ratio is more than enough to provide you crisp-clear visuals when viewing 720p content straight off the device itself. The flagship “Retina Display” technology, patented by Apple, when simplified, means that the iPhone 4 has displays so clear and crisp, not even the regular human eye can process.

The iPhone 4 shares the same processor with iPad. The newly-released A4 processor will enable unchartered multitasking abilities with a generous 1 GHZ clock speeds. But what strikes me most is how this processor can drain the juice out of the iPhone’s battery. But as Steve Jobs emphasized the playback, I’m assuming that the processor was downclocked to provide equilibrium. Expect more process-hungry apps to be developed and sold by the end of this year.

Apple has not dissolved its partnership with AT&T yet, so users will again be stuck with the carrier services. Pricing for the iPhone 4 is set to start at $199 (new activation, standard upgrade). Estimated time of arrival in retail outlets is yet to be announced officially. For now, European users will be given the first taste of the ingenious iPhone 4.