iPhone Nano

So...who else thinks there is going to be an iPhone Nano?

The main complaint against the iPhone seems to be the price point. Looking at things like the widely popular Motorola RAZR, which ended up in the mass market price bracket, I just have to believe that Apple is thinking along the same lines.

A similar form factor as the Nano, except screen taking the place of the click wheel. What else removed? Not sure, maybe no wifi? Limited storage?

Anyway, just thought I would record this crazy idea. I have no inside information, only time will tell if I'm right. And without a photoshop mock up, I'm not going to get tons of traffic :P

Update: Alexa commented and made a Photoshop of an iPod Touch Nano / iPhone Nano: