PC World — Today is the big day. Google has a press event scheduled and all rumors and speculation point to the official unveiling of the not-so-secret Nexus One mobile phone.

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There has been a frenzy of rumors circulating about Google's (GOOG) foray into the mobile handset market since it was first discovered that Google might be working on such a device. Based on the prevailing rumors and speculation, here are five predictions for what we can expect from the Nexus One.

1.It will be Google's 'iPhone'. Apple (AAPL) has built its reputation on providing a superior user experience. In order to do so, Apple controls virtually every aspect of its products from concept, to research and development, to software and hardware, and even to marketing and distribution.

By doing so, Apple can ensure that various elements work seamlessly together to maximize the potential of the product and optimize the user experience. There are a variety of handsets available already that are built on Google's Android mobile operating system, but the Nexus One is Google's chance to manage the bigger picture and provide a mobile device capable of meeting the potential of Android.

2.It won't be an iPhone. It might be Google's equivalent of an iPhone--conceptually speaking, but it won't be an iPhone, or iPhone killer as we in the media so love to call each new innovative device that comes out.

According to the alleged specs of the device, HTC has created a formidable hardware platform for the unveiling of Android 2.1. It will supposedly be thinner and faster than the iPhone, and beats the iPhone on paper in a number of categories, but it won't create the sort of frenzy or demand that Apple achieved with its mobile phone.

3.It won't be a Droid . Not only will it not be an iPhone, but the Nexus One won't even be a Droid--the current crown jewel of Android-based mobile phones. Verizon (VZ) invested a substantial amount of money marketing the Droid and creating a buzz around its launch. While the Droid was not the first Android-based phone, it was the first Android-based phone from Verizon. Arguably, Verizon and the Droid are responsible for Android becoming a household word.

On paper, the rumored Nexus One specs are only incrementally different or better than the Droid. Combined with prediction number four, below, the Nexus One doesn't introduce any compelling new functionality to make it exciting. Basically, the market for the Nexus One probably already just got a Droid and won't be looking to change for a couple years.

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