What Will Happen On iPhoneDay?

Speculation runs rampant about what's going to happen on Friday when the coveted iPhones are released in malls and stores across the land. No, Jesus is not going to descend from the clouds to personally bestow iPhones into the hands of the multitudes. But we are hearing some chatter about what might happen. Leakers of these info bits claim to be store employees and mall concierges. Here's the scuttlebutt so far:

• Store managers in New York are saying that only one phone will be sold per customer, and if you want to buy another one, you'll need to get in the back of the line and wait all over again.

• Numbered wristbands, in three colors, will be distributed on Friday at 5 p.m. to those waiting in line for the iPhone, numbered 1 through 500. It was unclear whether all Apple Stores will be getting 500 iPhones, though.

• One mall concierge reports that stanchions will be placed outside his mall at 6 p.m. on Thursday, and the line will form at the mall entrance closest to the Apple Store.

• Groups of 50 at a time will be let into the Apple Store, with the first group admitted at 5:50, 10 minutes before the official launch.

Thanks to Mod My iPhone and other tipsters.