The speaker thing confuses me a bit, but having read comments and reviews regarding other phones recently it does seem important to a lot of people, so they would probably be silly to neglect it.
I'm guessing the camera won't be awful, but will merely be adequate like the last two. In a way I'm happy if they only release the large one as it will get me to go for something different. My theory with the camera has generally been that it doesn't matter as if I want to take decent photos I'll use a real camera, but my phone is always with me and there are times when I think I'd really like to be able to capture a better image.