Here is a nice pic of the new N950 from Nokia. It's is a slide-out keyboard style with an ample keyboard and higher resolution screen that you typically see on a screen of this size, 4". Unfortunately, it runs Meego, an untested mobile OS from Intel. However, imagine if it runs iOS 5 - yeah, it would blow the market wide open should Apple ever decide to release an iOS device with a physical keyboard.
I've tried the portrait keyboard on the iPhone and Blackberry. Then there's the Android G1 that I used for more than a year. Trust me when I tell you that the landscape with the slide-out keyboard is much better for those who still cannot get accustomed to virtual keyboard.
Anyway, I'm sure Apple has considered released an iPhone with a physical keyboard but has so far decided against it. Still one can dream.
Oh, did I mentioned that the N950 has a 12MP camera? The iPhone 4 has a 5MP camera. There is expectation Apple will upgrade the camera on next iPhone but I highly doubt a 12MP camera is in play.