Let the hive mind of Engadget get that for you.
"I own an iPhone 3G and I'm looking for a decent speaker / alarm clock for it. I am going to listen music in a mid-sized room, so I want nice quality speakers with solid bass. I also want to use it as an alarm clock, so it would be great if there is such a feature. The price can be low-mid to mid-high range. I was looking at the Klipsch iGroove SXT; it's powerful, slick and the reviews are good, but it doesn't have an alarm clock feature. It's no deal breaker if I can set it up from the iPhone, but I'm not sure. Thanks!"
I think this could be a proof of concept of some sort, yet if it's being mass-produced, Apple could face imitators on the phone market at a similar ratio than in the current mp3/4 "iPod" space.
I guess Apple should bring a highly innovative design if it's up to bring yet another phone to a uber-saturated market. I personally feel rather reluctant to the inclusion of the click-wheel (which of course they'll include, since it's part of the brand), unless they make some size reduction. Frankly, I'm right now looking forward to the ZunePhone, since they mp3 player looks more akin to phone behaviour, and M$ has got game on the mobile market already.