As for the under-the-hood improvements, we don't expect much change from the S7/edge duo, except maybe 6 GB of RAM, or a slightly overclocked chipset in the purported Snapdragon 821 version, as well as a larger battery to back them all up. The venerable S Pen should also be taught some new tricks, but it's the combination of all these niceties and a few standout features that could really prime the Note 7 as a blockbuster handset.

Thus, if you are mulling a new phone purchase, it might be advisable to hit the pause button, and wait until August 2 when the phone will be announced. What would be the eventual reasons for relaxing your finger from the trigger? Check them out below.

1. First Note with a waterproof chassis

The Galaxy S7 and S7 edge are watertight, and there is every indication that the Note 7 will be as well, which would make it the first such Note, and a unique phone among its pen-wielding brethren, without sacrificing on the premium glass looks.

2. No more edge-y versions: first Note with a flexible curved display only

Sorry, flat screen fans, this might be the first phone from a major line that will come with a flexible "edge" display only. While this may leave a tad less canvas to swirl the stylus, the Note 7 might be narrower and thus easier to hold than its 5.7" competition.

3. First Samsung phone with a USB-C port

Samsung's Luddite period might be coming to an end with the Galaxy Note 7, as the upcoming phablet is rumored to be equipped with that elusive USB Type-C connector by numerous sources.

Samsung's fast wired and wireless charging make equipping its phones with the trendy connector somewhat redundant, as even now they have the fastest charging times of all flagships anyway. What's left is the speedier data transfer, but even for that there are limitations, so maybe Samsung just didn't feel like producing a USB Type-C phone in the millions of units just yet.. until now.

4. New Note UX for a new S Pen

Samsung is test-driving a new TouchWiz interface version, which will probably make a cameo with the Galaxy Note 7 in August, hence the name Note UX. It is currently being employed to beta testers with Note 5 handsets in Korea, and known internally as Project Grace.

While the new interface keeps the general shape and familiar form of TouchWiz, the icons have been smoothed out and made more consistent - a common complaint with Samsung's overlay - but there are also other changes, like unifying the Action Memo or S Note into one apps called simply Notes, or adding a blue light filter in the status bar toggles.

5. Slower depreciation

At this time last year, the Note 4 had lost almost half of its value, while Verizon's Note 5 has lost only a tenth of its initial $768 price, while at third-party retailers the Note 5 is still sold at quite above the $500 mark, having lessened in price only by a third for a year. That's not exactly the constant pricing of an iPhone, yet the move to a metal-and-glass chassis from plastic ones seems to be holding the Samsung flagships' value much better now. Given how futureproof the Note 7 is shaping up to be, this trend could very well continue, improving your resale value, and alleviating the early adopter pricing pains somewhat.

6. New Blue Coral color!

Pretty in pink? How about pretty in Blue Coral? It might sound vain, but the Note 7 could become available in a brand new and quite pleasant new color scheme, with a color-coordinated S Pen to match all hues.

7. Note 7 may be the first phone with Gorilla Glass 5

Replacing the curved S7 edge display costs $270, so we can only imagine how much would the flexible 5.7" panel of the Note 7 set you back if you drop it face-down. 

That's why ever since Corning announced its next generation of toughened cover for the screens of flagship phones and tablets -Gorilla Glass 5 - we've had one thought in our mind. Quickly enough, a Korean publication claimed that Gorilla Glass 5 will make its debut on the Galaxy Note 7, leveraging Samsung's outsized investment in Corning once again. Shoulder-height drops, here I come (said no Note 7 ever).