it seems someone has get a hold of a white iphone 4 from the factory and is trying sell it for a fortune on his twitter. Whoever the owner is has requested for an interview with a hongkong website and showed the phone to them. basically what's being said in the website is that it's should not be one of the black iphones that's converted to white because the area inside the USB connector and 3.5mm jack are white and not black.
personally, i would got the white if it had been available. the black is just a finger print magnet.
juat realized that there is also a "high quality" conversion kit available from Japan. guess it's up to anyone's guess if this white iphone4 is real or not.