That would be covered under "form factor".
No mention of enhanced gestures.
True. Was this a hot topic?
No mention of using buttons to take picture in camera mode.
That's already included in iOS5 for all compatible iOS devices that include a camera (everything but the iTouch 3).
True multitasking.
Ain't gonna happen, ever. Battery life takes precedence.
CHEAPER.
Also ain't gonna happen. Apple's price points tend to be very stable -- you just get a more powerful device for the same money. (Though they did add a new price point for the 64GB model.) The 4 is going to be a lot cheaper once the 4S debuts, though.
Excellent summary here:
http://techcrunch.com/2011/10/04/apple-iphone-4s5-rumors-what-was-right-wrong-and-just-plain-crazy/