Will iPhone 3GS Get 720p HD Video With iPhone OS 4?

We [predicted that the 4th generation iPhone will be capable of 720p HD video](http://sanziro.com/2010/04/17-things-about-4g-iphone.html). This is more or less confirmed by the [sighting of internal preset value in iPhone 4 beta SDK](http://www.macrumors.com/2010/05/05/next-iphone-to-record-1280×720-hd-video/) of “AVCaptureSessionPreset1280x720” where 1280×720 is the resolution of 720p HD video.

720p HD recording is required in order to keep 4th generation iPhone competitive. How about current iPhone 3GS? iPhone 3GS currently records at VGA resolution but it is well known that the camera within the hardware is capable of 720p HD capture. Will iPhone OS 4 be able to unlock this capability? Will we get a surprise gift from Apple?