If you think that you’ve been following the swirls of rumors surrounding the possible new design of the iPhone 5, just wait until you see what the folks over at BENM.at have done.

Using all of the most relevant hints and rumors, they have created an iPhone 5 prototype that basically looks like the phone that most users are hoping for. Here’s how they did it:

Based on CAD designs, hardware components, several leaked hints, cases and recent, believable mockups we created a three-dimensional computer model. This virtual model was then used to build a very detailed, true prototype that you can hold in your own two hands.

The process to create this prototype is the same that’s used to create the iPad. The back was machined from a sold block of aluminium, which was later treated with glass pearls to get the same slightly rough touch that we already know from the iPad.

Like many rumors, the prototype is thinner and wider (59.94 mm wider). It also has the much talked about teardrop design with a slightly thicker top and a slightly thinner bottom.

It also sports a larger screen – 4 inches to be exact. That’s .5 inches larger than what’s currently on the iPhone 4. Rumors have discussed a modified home button for months, and this prototype delivers. The home button is now elongated and rectangular and it is no longer mechanical. Instead of having to actually push it, it is just touch sensitive, like the rest of the screen.

Check out the prototype in this video. As you would expect, it’s not functional, but it’s cool to see all of the speculations put into an actual device –

Will the iPhone 5 look anything like that? In the video, they claim that they are 98% sure that their prototype is spot-on. I don’t know, maybe something was lost in the translation. One thing we do know is that we won’t have to wait much longer to see what the next-gen iPhone looks like. Apple has announced their big “Let’s talk iPhone” media event, scheduled for Tuesday, October 4th in Cupertino.

Rumors were able to pin the announcement date and if the iPhone 5 is released soon after the unveiling (as it should be), rumors would have also predicted the release date pretty accurately. The latest hints point at the new phone hitting the shelves on Friday, October 14th.

The design has been a little less agreed upon. For everyone that says it’s going to be a radical shift from the iPhone 4 design, there’s a handful of reports that the new phone will look similar to its predecessors, only bringing some hardware changes to the table.

What do you think of this prototype? If the iPhone 5 was unveiled next Tuesday and it looked just like this, would you be happy? Let us know in the comments.