The exercise is interesting because Apple does not talk much about the specs of their iphone hardware, presumably because they don't want people viewing the iphone as just a collection of off-the-shelf third-party components commonly found in other phones, nor as a collection of "specs", e.g. RAM, clock speed, etc, because Apple has no particular advantage in any of that.
So it's important for the consumers to know that the goodness of the iphone comes not from widely available and inexpensive chips, but from home-grown Appleyness itself! Every iphone is actually infused with just the right amount of Apple-goodness, and that's all you need to know. I've heard it's actually mixed by waterfall right there in a secret Apple factory in Cupertino.
But once the hardware is available publicly, then people not bound by NDAs can rip the thing open, and tell us what it actually is, and therefore what it actually can do.
-harry