According to Jesse Tortora of Prudential Equity Group, the next iPod will have 32G of flash memory in place of the current 30 and 80G hard drives. New drives with the same form factor offer as much as 120G of storage.

The advantages of flash over disk is that it is lighter, consumes less power, and is more resistant to impact. Tortora claims Apple is considering   switching exclusively to flash memory for future iPods.

If Apple retained the current 'full size' form factor but gave the iPod a facelift plus the choice of 80 or 120G drives, this would open a space of a new incarnation of the iPod mini. We find it easy to imagine a model with 32G of flash storage, an industrial design similar to that of the iPod nano  but closer in width and height to the regular iPod (yet keeping the nano's lack of thickness) and maybe a 2in screen.

This would be a smaller, lighter model suitable for people who want to carry around a selection of TV shows, music videos and so on, while retaining a high-capacity iPod suitable for substantial movie libraries, or who want higher-resolution copies that give a better picture when connected to a TV or monitor.

Why would Apple bother with the latter market? Simple: it includes high-value customers who travel frequently by air, or have second homes at the beach or out in the country.

Tortora also predicts the next iPod will include GPS and WiFi. Personally, we can't see why we would want to know where we are while listening to a podcast or watching a video - but it might make sense if a road navigation system was an option. If the new model has a touchscreen rather than the traditional wheel control it could work well and reduce the number of devices we carry.

But WiFi? Again, we're doubtful. For one thing, there's the added power consumption. For another, it's quicker to transfer content via USB 2.0 than by WiFi. And USB powers your 'pod at the same time. But Zune's got WiFi, so maybe Apple will fall in line with a "me too" feature.

Among the many celebrities said or known to be among the millions of iPod owners are Tyra Banks, Hillary Clinton, Pope Benedict XVI, President George W Bush, Queen Elizabeth II, Katie Holmes (reportedly a pre-childbirth gift from Tom Cruise), Lindsay Lohan and Oprah Winfrey. We have no idea which of them would want a flash-based video-capable model - but any of them could afford one if they did.