With the Holiday shopping season approaching fast, we are hearing a very hot rumor again about the never coming iPhone 32GB. We are tired of hearing about this right? Nevertheless, we still love to hear time and again of this late comer.

With the 8GB model reportedly running out of stock, it sounds somewhat realistic to expect the coming of the 32GB. This we know is the strategy Apple has been following for long. If a stock runs out and the shipping somehow appears to have stopped, that is the time we started waiting for a new comer. This is the 32GB we expect at the moment.

Adding a pinch of sweetness to the rumor, here is a welcome note that the 32GB might be given away contract free, meaning customers have to pay more at the go.

Now, let’s come back to the real side, the popularity of the 8GB version is yet to die down, so it is unlikely that Apple will drop the 8GB model. And finally pumping out the 32GB before the holiday season is a wild guess. Even if we do want it badly, Apple will choose the post holiday season going by the historical timing of Apple updates. So, no 32GB for the Holiday shopping season.

Updated December 3, 2008: The 32GB model is expected during the Macworld Expo and Conference 2009.