It’s finally almost here. Apple’s iPhone event is coming Tuesday, and buzz about the handset has hit an all-time high in advance of the company’s announcement.

The latest rumor, fittingly, has us back where we started: there’s a lot of late speculation that the next iPhone will be a refreshed iPhone 4, and not a full-fledged, redesigned iPhone 5. Speculation, however, does indicate that the new iPhone will have a 16 GB, 32 GB and 64 GB model.

Citing “manufacturing sources,” 9 to 5 Mac said that Apple is not currently manufacturing the “teardrop” iPhone that has been pegged as the iPhone 5. But the report does expect two models of the iPhone: a 4S model and a cheaper iPhone 4 that will have a much lower price point.

The report also says that Apple’s tag line for the event, “Let’s Talk iPhone,” is a reference to the new voice control systems that the company has built into the phone, including voice navigation and speech to text. Other features expected in the new model include a faster processor, the capability to run on both CDMA and GSM networks and a 8MP camera sensor.

Not all reports indicate, however, that the next model will be a 4S. Mashable said that some of its unnamed sources are sticking to the assertion that Apple will reveal a revamped iPhone 5, which just shows how well Apple has managed to keep its plans under its hat.

Trade-ins ahead of Apple’s announcement are also ramping up, and trade-in company Gazelle has seen a jump in transactions. The company is currently offering around $200 for the iPhone 4, but those prices will drop once the new phone — whatever it is — is officially announced. According to a report from The Street, the company has seen a 20 percent increase in trade-ins for all smartphones in the past three weeks.

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