The era of iPad 3 speculations is long over but Apple fanboys are never tired of creating and encouraging speculations about Apple devices. The hype that kicked in around the iPhone 5 seems not to die anytime soon. With every passing day, rumors are gaining traction from unconfirmed sources, deliberate speculations and exclusive reports.

Fans clamoring for the unreleased iPhone have already given birth to information, some of which is blatant speculation and bizarre in nature. Few of the rumors are very likely to be seen in the latest iPhone 5. However, here we should mention that the name of the next gen iPhone is also not confirmed and can be subbed as the New iPhone too.

What could be better than starting off a new week with a reality check on the rumors of the iPhone 5? While we are also not completely certain about the features, we can at least tear down the rumored features and predict which ones are the most unlikely or bizarre features and which have better chance of being featured in the upcoming iPhone 5.

Predictions Ranging from Bizarre to Very Unlikely

4/5-inch Screen Size

Display or the screen size is perhaps the most rumored feature of this next generation iPhone. While Reuters citing a South Korean publication, the Maeli Business Newspaper, reported that Apple had ordered 4.6-inch screens for the company's next iPhone, another report surfaced from iMore's editor-in-chief Rene Ritchie stating that Apple is most likely to retain the current 3.5-inch screen for the iPhone 5 but will introduce some new features.

More Gesture-Based - No Home Button

The purported iPhone 5 will feature Gesture-based UI and no home button. While Patently Apple revealed that the Cupertino giant has already paved the way for a new 3D GUI for iOS devices, it is very unlikely to be seen in the iPhone 5.

Fire-Proof iPhone

A new report has suggested that the Apple iPhone 5 is going to be the first fire-proof phone. The report also suggests that the company has organized a patent app for highly developed material which is a halogen-free flame retardant. Guys hoping to see this feature in the iPhone 5, better luck next time!

iPhone 5 and Nano-SIM

Reports suggest that Apple is targeting the iPhone 5 to be slimmer and feature a larger display, and to do that it may introduce a nano-SIM. While we know Apple is quite capable of making another benchmark in the smartphone industry, reducing the size of the existing micro-SIM card by one third in their next iPhone iteration may not happen anytime soon as the ETSI, a commission in Europe that grants technology requisitions, has delayed a vote on implementing Apple's latest nano SIM.

Nokia also might cause a delay as the Nano-SIM design options have been introduced by them. Therefore, there's a very lean chance of seeing the Nano-SIM in the iPhone 5.

Phone with DSLR Camera

The latest Pro concept designed by South Korean product designer Jinyoung Choi suggests that Apple might sport a digital single-lens reflex (DSLR) lens mount on the back of the iPhone, a dream feature for professional-grade photography.

As if that's not all, Choi's iPhone PRO concept also features a built-in projector system. Now your iPhone 5 can work as a high-resolution image projector on any surface, making videos, documents and photos easy to share with everyone in the room.

Choi's imagination is great but we sincerely do not hope to see the DSLR attached with the fabled iPhone 5.

Features Most Likely to See Daylight!

3.5/4-inch Display, Teardrop Design and Rubberized Bezel Body - Rumors suggest and we also believe that this time too the Cupertino-based company will not make its iPhone 5 screen bigger than 3.5 to 4-inch in size.

Earlier, 9to5Mac claimed that the prototypes of Foxconn suggest that Apple will make the device at least 4 inches and would retain the rectangular shape of its predecessors.

Some earlier rumors also mentioned that Apple's sixth generation smartphone would adopt a teardrop design and would be symmetrical in shape with an aluminum rear panel reinforced by a glossy plastic or rubberized bezel.

Retina Display - Now that Apple has introduced the resolutionary new iPad with Retina display that sports a path-breaking 2048 x 1536 resolution, the next iPhone is also expected to feature something higher in terms of its display.

Sources claimed that the next Apple device will sport a Quantum Dot LED curved glass edge-to-edge display with 1280 x 720 resolutions (367ppi).

4G LTE - A feature that has every possibility to come with the newest Apple device is the 4G LTE connection. Since the new iPad 3 has been launched with the 4G support, it is expected that the iPhone 5 will come with radio bands for 4G LTE support.

And, if rumors do come true, then the company will have to make the device a little thicker to accommodate a larger circuit board and a bigger battery. This was the reason why Apple rejected the plan of implementing 4G LTE in its iPhone 4S. Apple CEO Tim Cook, in a company earnings conference call in April 2011, said first-generation LTE chipsets force a lot of design compromises.

A6 processor - Quad core processor is the latest trend in the smartphone market now. And Apple will make no mistake this time to pack the strong processor which can support the speculated Retina display and other powerful apps including Siri.

The Verge reported that the next iPhone will see the introduction of the rumored A6 processor that will clock in at superfast 1.2 to 1.5 GHz with 1GB or more of RAM to offer amazing processing capabilities to the smartphone.

Wireless Charging - A never-before-seen feature in the iPhone, called the inductive wireless charging technology, may be released with the iPhone 5, believe industry experts. The technology will let the phone charge its battery without using cables or plugs.

iWallet and Near Field Communication (NFC) -  Apple won a patent for the iWallet feature in March this year and is expected to launch this app, which is a digital system to give users complete control over their subsidiary financial accounts on their iPhones and leverage Near-Field Communication (NFC) technology to complete credit card transactions through phone.

iOS 6 - With the new iPad, Apple has launched an upgrade of iOS 5, dubbed as iOS 5X, but with the sixth gen iPhone, the company will launch its latest iOS 6.

Better Siri - Siri 2 is all set to be launched with the iPhone 5. Currently, the iPhone 4S has the beta version of Siri but the new iPad has voice dictation. But Apple lovers this time can pin their hopes on a better Siri with more intelligence!

Face Unlock - ITProPortal reports that the Cupertino tech giant had recently filed a patent titled Electronic Device Operation Adjustment Based on Face Detection, which details the way a device can act when it recognizes its user.

The device would capture a user's image, weigh it against the predetermined set of data stored and then unlock and load a user's profile, said the report.

Universal Remote Control - Apple might also offer a universal remote control feature in its next gen iPhone, claims Patently Apple. According to a recent report from Patently Apple the universal remote control feature is likely to be integrated into a future iPhone (or other iOS device) instead of it being an add-on app at the App Store. The advanced features being added to the Apple remote could be signaling their preparation for a standalone HDTV as it's to control a television and other related entertainment devices.

New Dock Plug - Rumors suggest that Apple is working on a miniaturized dock connector to help make extra room in its portable devices.

A report from Japanese Apple-centric blog Macotakara and a latest report from iMore claimed that smaller ports are to included in the iPhone so that Apple could make more room for other components.

Improved 3D Camera - According to Patently Apple, the company [h]as invented a killer 3D imaging camera that will apply to both still photography and video. The new cameras in development will utilize new depth-detection sensors such as LIDAR, RADAR and Laser that will create stereo disparity maps in creating 3D imagery. Additionally, the cameras will use advanced chrominance and luminance Sensors for superior color accuracy.

Better Battery - Apple fans are also hoping for an improved battery to be incorporated into the iPhone 5. Rumors are rife that the phone will have a better battery life than the current iPhone 4S Li-Po 1420 mAh battery that gives up to 8 hours of talk time on 3G and up to 14 hours on 2G (GSM). Given that the phone will come with a HD display and powerful apps, it is highly probable that the Cupertino-company will pack in a better battery.