Many rumours are circulating on the Web and one of the newest is that Palm is preparing a Treo 700 with a more rounded design and a smaller antenna. This device should include EVDO wifi support and a 1.3 megapixel digital camera with 8x digital zoom.
Currently the Treo 650 only has a 0.3 megapixel camera with 2x zoom. The new model still has a 320x320 pixel resolution but is believed to be a bit bigger in overall size.
More info at BargainPDA