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Get ready Hollywood, major iPhone update coming tomorrow!

If you spend any time in Hollywood, you know iPhones are big in the entertainment biz. If not for the fact that many companies still use the Blackberry for corporate purposes, they’d be virtually ubiquitous. But pretty much everyone who can have one does — they’re a symbol of cool and exceedingly useful.

So tomorrow, if Apple announced version 3.0 of its iPhone software, it’ll be a big deal for Variety’s readership. Of course we’ll be following the news as it’s announced, but here’s what the rumors online say you should expect:

-A premium applications store. Rather than having to mix their content in with the thousands of thousands of low-cost, well, junk on Apple’s app store, trusted partners that want to offer more expensive — and hopefully higher quality — apps will get their own separate version of the store, or store all to their own. This could be particularly useful for videogame publishers and movie studios that want to reach the iPhone and iPod Touch audience.

-Cut/copy and paste. According to Digg co-founder Kevin Rose, we’ll be able to use two fingers to cut or copy and paste text. Inability to do so currently is a major drawback in writing e-mails or texts, especially for the business user who does that frequently.

Photos in text messages. One of the few common features that the iPhone is annoyingly lacking.

-The ability to “tether” your iPhone to your laptop computer, which essentially means it would serve as an Internet connection. If you’re somewhere without a wi-fi connection and need to get that laptop computer online, it could be incredibly useful. Basically a free, but slow, version of a Wi-max card.

How many of these are right? And what other new tricks for the iPhone and iPod Touch does Apple have up its sleeve that we don’t know about. Come back tomorrow to find out.

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