Ceramic cases! 2Ghz processors! 1080p screens! These are just a few of the more outlandish rumors we’ve heard about the mythical hardware in the upcoming Samsung Galaxy S III. With press invitations sent to a May 3rd event, speculation has hit a fever pitch, but at least one news source advises caution. Cnet quotes an anonymous insider saying that Samsung’s update won’t be anywhere near as monumental as some rumors indicate – in fact, it’ll be positively minor. “It’ll be like the iPhone 4S was to the 4,” said the insider, bringing up memories of mild dissatisfaction among eager Apple customers.

So, on the one hand we have sources claiming insider information with some mind-boggling specs, and on the other we’ve got sources claiming a more tepid update. Both are from (mostly) reputable news outlets, both use anonymous sources. Cnet’s source wouldn’t give hardware specifics, but said to look to the HTC One X for a blueprint of what to expect. (It’s debatable whether a jump from the Galaxy S II to something like the One X qualifies as “minor”.) That would agree with the only two solid pieces of hardware information we’ve seen thus far: a Samsung Exynos quad-core processor and a 4.6-inch Super AMOLED HD+ display.

There was one more nugget of info the anonymous tipster revealed: the Galaxy S III will come with an eye-tracking feature. This isn’t used as an iris-based cursor or anything, it’s more of a secondary lock – the phone will operate normally when you’re looking at the screen (determined by the front-facing camera) and disable the touchscreen when you’re looking away. While this is certainly possible and might even be useful, it sounds like a major battery burner. If the eye-tracking feature is included, I hope it’ll be optional.

Whatever the hardware turns out to be, we’ve only got a few more weeks to wait. Samsung teased the tech press with a reveal of “The Next Galaxy” at a London event on May 3rd.

[via SlashGear]