Watch this week’s iReview as we go through the rumors of a probable either launch or at least announcement of the iPhone 5 for September 7th. Within that same announcement, more rumors have aired regarding a cheap cloud based iPhone that could retain the iPhone 4 design. We also talk about the release of iOS 5 beta 5 and all the enhancements offered to those previous customers of MobileMe. On other interesting notes, we also go through recent claims that the Nintendo board of directors wants their games on an iPhone, the fact that Apple is now the most valuable company in the world after beating Exxon in Market Cap, the development of all the Gizmodo scandal with the leak of the iPhone 4, and our thoughts on Apple patenting a Pico Projector mechanism for the iPhone and iPad.

In the Not So Cool section we dig deep into the recent Facebook messenger and why we think it’s evil, and we also go through all the precautions that users of iOS 5 beta should take into consideration.

All this and more after the break.

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