The images—supplied by a Moscow-based company selling modified luxury versions of the iPhone called Feld & Volk to MacRumors—certainly look good. Feld & Volk claims that it's been using the same sapphire crystal on its modded phones as Apple is about to use on the iPhone for years, and that it got its hands on the shell to get a head start on its competitors. That may or may not be true.
Regardless, the images show a nearly all-metal design, with some, but not all, of the access ports cut out: the headphone jack and Lightning port are there, for instance, while the camera, mic and flash holes are yet to be machined. What we're looking at is a more rounded take on the current iPhone 5S. The Apple logo is cut out of the shell, too, suggesting that the iPhone may get a durable embedded logo like the iPad.
MacRumors has also acquired another set of very similar images, too, which lends some weight to their veracity. Of course, there's no way of knowing for sure if they are real or not—for that, we'll just have to wait and see. [MacRumors]