1:43 PM ET: More iPhone 4 features, via the New York Times' live blog: "Mr. Jobs says the phone has a new type of display called the Retina display, with 326 pixels per inch. "There has never been a display like this on a phone," he says. He compares an image of NYTimes.com on the new and old display side by side, and the new display appears much sharper."
1:32 PM ET: Here it is: “We’re introducing iPhone 4.” Via gdgt, Jobs says: "Now, this is really hot. There are well over 100 new features, but I’m going to cover 8 new features of the iPhone 4. The first: an all new design.” Jobs calls it the "thinnest smartphone on the planet." Features: Front facing camera, LED flash, MicroSIM tray, speaker, and more.

CNET writes:
"The iPhone 4 is a 9.3mm thick (a quarter thinner than the iPhone 3GS) with two built-in cameras (one on the front and one on the back with an LED flash), two mics and a noise cancellation button. Display is 4x resolution of previous models."

1:29PM ET: Steve Jobs announces his "favorite stat of the whole show:" Apple has paid app developers a total of $1 billion.

1:21 PM ET: Apple demos some apps: Netflix and Farmville (aka "Farming") are coming to the iPhone. The Farmville app will be available by the end of June.

1:14 PM ET: Jobs has turned to the App Store and HTML5. Apple has received considerable criticism for its App Store policies--not allowing Flash, its sometimes draconian and unpredictable app approval process, etc. Jobs goes on the defensive a bit: "95% of all apps submitted are approved within 7 days," Jobs says. He goes on to explain why the other 5% are rejected: 1) App doesn't do what developed claims it does. 2) It uses private APIs. 3) It crashes. (via Engadget) [We have to wonder: where do political satire apps, which are frequently rejected, fit in to those stats?]

1:09 PM ET: Jobs announces that Apple is updating its iBooks app, adding that some 5 million eBooks have been downloaded thus far (or around 2 1/2 books per iPad). New iBooks features: viewing PDFs, highlighting text, and making notes on the text. (see a picture of the updated iBooks app on gdgt.)

1:05 PM ET: Jobs shows off iPad stats. Proof it's magical? Jobs says he received an email from an iPad user who says it "got a girl interested in me." Jobs says 2 million iPads sold--or 3 every seconds. [HuffPost Readers: Help us do the math: Is that possible?]

1:03 PM ET: Steve Jobs takes the stage! Someone screams, "We love you, Steve!" Jobs: “Thanks. I think.” Great pictures at gdgt.

12:55 PM ET: What features will the new iPhone have? Here's a look at the specs "iPhone HD" is likely to have.

12:50 PM ET: You may be able to find live video from WWDC on UStream here.

12:47 PM ET: Just about ten minutes until the WWDC keynote begins. Bloggers, broadcast media, and other techies have been filing in to the Moscone West convention center--with the notable exception of Gizmodo, which purchased a lost (stolen?) iPhone prototype and leaked it on its blog. Gizmodo wrote, "It's no surprise: Apple has not responded to our requests to attend the WWDC keynote on Monday at 10am PST." MacRumors, The Apple Blog, CNET, Engadget, MacWorld, and gdgt will be among the sites hosting WWDC 2010 live blogs.

WWDC