Launch can't be far off.
Here's something interesting. SlashGear reports that the Apple Store app has just been updated to contain white iPhone 4 16 GB and 32 GB options. These models cannot be ordered yet- trying to reserve one prompts this message.
“Because of high demand, we are not currently taking iPhone reservations.”
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So we're clearly still a bit off from seeing these things in customer hands. But the fact that both entries made it into this edition of the app points towards the street release being imminent. I guess Apple's manufacturers finally fixed that persnickity color-matching issue.