Forget the fact that the newer, faster iPhone comes out this Friday. What the world is really waiting for with bated breath is the iPhone App Store that Marketplace’s Janet Babin reported on yesterday and that USA Today has more on today. The APP Store allows iPhone users to buy games and applications they didn’t have access to before.

The store will have 500 applications, and 25 percent of them will be free. The Wall Street Journal reports the App Store could do for mobile phone software what iTunes has done for digital music.

I have yet to buy an iPhone, but I’m anxious to see how many applications I could stuff onto one screen.