When , it was Phil Schiller--the company's senior vice president of worldwide product marketing--who first showed off the device onstage. If Wednesday's event follows the same approach, Cook will come out first to crow about Apple's sales numbers and iPhone adoption, and then introduce Schiller to show off whatever the company is "really excited about" that day.

It's always possible that another Apple hardware product or two could share the spotlight--but don't hold your breath. The iPhone is a major rainmaker for the company, and Apple may well want to focus as much attention on that one product as it can.

For years, the company has kept the venerable 3GS as its "free with two-year contract" phone in the U.S.; whether the lineup will shift to iPhone 4 (free), iPhone 4S ($99), and iPhone 5 ($199) remains to be seen.

Regardless of what Apple announces Wednesday, will cover the event live as it happens, with analysis to follow over the days to come.