It'll probably be subject to an additional fee as usual, but Verizon and Apple have just revealed that the new CDMA iPhone 4 will act as a mobile WiFi connection for up to five devices. It'll come with an iOS-specific version of the Verizon 3G Mobile Hotspot that folks have been enjoying on their Droids for many moons now. That should allowing for laptops, tablets and the like to get online via iPhone without a pesky cord, and almost certainly make the long-verboten iPhone - iPad tethering connection finally attainable. Joy to the world!

Update: Verizon called it an app, but getting hands-on we can see that's not the case at all -- Personal Hotspot is built right into the CDMA iPhone 4's build of iOS 4.2.5. Perhaps we'll see it migrate to other devices as well?

The Verizon iPhone