The dawn of another day in the Land Down Under brings us what we've all been waiting for: the new iPhone 5!

A big thanks to MacFixit Australia for letting us use their digs in Melbourne for this teardown. They stock Mac and iPhone upgrades/accessories, and also carry our iFixit toolkits.

The iPhone 5 is here, and it brought along the big guns.

• 4" 1136x640 pixel (326 ppi) Retina display
• Apple A6 system on a chip (SoC)
• 8 megapixel iSight camera
• 8-pin Lightning connector
• 4G LTE connectivity
• iOS 6

There won't be any mistaking an iPhone 5 for an iPhone 4 or 4S. A lot has changed on the outside of the iPhone.

The most obvious alteration to the bottom of the phone is the exchange of the large 30-pin dock connector for the diminutive Lightning connector.

The headphone jack is now on the bottom of the iPhone, right next to the updated speaker microphone grille—a series of holes rather than a mesh-covered slot.

Other notable differences are the slate bezel, as opposed to the stainless steel that wrapped around the 4S, and the chamfered edges between the bezel and the front/rear cases.

Pesky pentalobes! Good thing our 5-Point Drivers still work on them.

• It's incredibly convenient that Apple used the same pentalobe screwhead that they've been using for the past two years on the iPhone 4 and 4S. Unfortunately, the screw shafts are slightly different from the screws in our iPhone Liberation Kit…for now.

The unibody back case is reminiscent of the iPhone 3GS, while still retaining the square (though now chamfered) edges of the iPhone 4.

What's this? A suction cup? We haven't needed a suction cup to get into an iPhone since the 3GS!

Because the iPhone 5 is opened front-to-back, replacing a cracked screen is going to be easier than ever. Thank you, Apple!

• Compare this to the iPhone 4S, where it took 38 steps to isolate the display assembly, and this iPhone may be the most repairable iPhone we've seen in a while.

The display connector is held firmly to the logic board by a few simple Phillips screws.

Our spudger makes quick work of prying up the display connector, and poof! the display is free.

We're having iPhone 3GS flashbacks with the easily accessible display assembly.

Screen crackers and screen fixers rejoice!

The iPhone 5 ditches its lid to show us all of the juicy bits inside.

So, what can we see from here? A bigger battery? Antenna connections? A single speaker? Cameras? Vibrators? Home buttons?

• Never fear, our faithful iPhone delivers; we'll be sure to take a closer look at each of these components as we remove them.

As always, we disconnect the battery first to prevent electrifying anything, including ourselves, as we dig deeper.

Three Phillips #00 screws and a metal bracket hold the battery connector to the logic board.

• Hmm, this is beginning to feel very familiar.

In the 3GS, the display assembly was easy to take out, but the battery was a pain. In the 4 and 4S, the display assembly took 38 steps to remove, while the battery was a breeze. We like to think that Apple has started tailoring to our preferences in allowing us to remove both the display assembly and the battery in only a couple of steps.