This morning we told you about the report that Apple was set to unveil the iPhone 5 at its next media event on October 4th. What the report didn’t address was the iPhone 4S rumor and how the rumors of two new iPhone models fit into the puzzle.

Reportedly, Apple will only unveil one iPhone this year, and it won’t be the mysterious, ‘teardrop’ iPhone 5 that we’ve all been hoping for.

While the industry eagerly awaits Apple next’s media event, AppleNApps has dusted off the rumor that Apple will introduce a 3G iPod touch this Fall to compete with the prepaid market. Although a cheap, data-based, VoIP-intensive iPhone would definitely shake up the prepaid niche, such a product would also define a new category of mobile handsets — and that’s something that Apple has been known to do.

The latest word on the street is that Apple will introduce a new iPod touch this Fall with the capability to run on a 3G network. This rumor has been built off previous reports that a cheaper iPhone “Nano” would be introduced alongside a new, flagship iPhone. Now there’s a render. What do you think?