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Think Secret reports that Apple is prepping the launch of the fourth-generation iPod, this time featuring a color display. The new units may even arrive by Xmas, as the countdown to launch is said to be a mere 30-60 days.

The new iPod is expected to feature a 2" color LCD screen, picture viewing capabilities with iPhoto support, a 60GB hard drive and AV I/O support.

The price? $499.

Think Secret reports that the only thing holding up the next-gen iPod is the 60GB Toshiba drive (Toshiba recently launched their own 60GB player). Apple apparently would have launched in September, but insufficient volumes of 60GB drives were being produced.

The article describes the 4G iPod's form factor as "identical" to that of the current 3G 'Pods. Software is said to be "rudimentary", with no photo editing tools.

Analysis: Even at $499, the speed at which these will fly off the shelves will make you dizzy. Sorry, 1G-to-3G iPod owner/drivers: these will make your model look like...well, a Classic next to a Color Classic.