The Japanese site iLab have posted a high quality set of photos of a fully assembled iPhone 5.
CydiaBlog gives this assessment of the images:
The leaked parts shows the bigger screen, different internals (such as a new flex cable holding the Home button in place), and the camera modules (front and rear). The camera module cutout looks to be larger, there is an enhanced version of speaker and microphone configuration at the bottom, new smaller dock connector (instead of 30-pin Dock Connector, 16-pin connector could be introduced). Another notable design change in the new iPhone front panel shows the FaceTime camera has been moved to a centered position above the earpiece speaker (it is currently to left of the earpiece in iPhone 4S and iPhone 4).
Could this be the next iPhone? Post your thoughts below!