As with most Apple events, today's "Let's Talk iPhone" event is causing speculation to run rife across the Internet. Many people seem convinced that the iPhone 5 will make its long-awaited appearance at the event today, while others are more doubtful.

TNW reports that "sources familiar with Apple's plans" have shared details of the content from the event -- and an iPhone 5 is seemingly nowhere to be seen.

Instead, the sources claim, the event will reveal the new iPhone 4S, which boasts an 8 megapixel camera, 1GB of RAM and Apple's A5 processor (as seen in the iPad 2), offering a significant speed boost over the already-slick iPhone 4.

It's believed that the new device will also offer speech to text dictation thanks to Nuance software, and a voice control system known as Assistant.

Not long to wait now until we discover who's right -- or if we've all been wrong. Check out our sister publication Macworld's live blog of the event (which starts at 10 a.m. PT, 1 p.m. ET) for the latest, and follow Jason Snell (Macworld's Editorial Director) and Dan Moren (Macworld Senior Associate Editor) on Twitter for discussion during and after the event.