9to5Mac has been disecting the beta release of iOS 4.3 and according to their findings, a folder is present that references MediaStream. They speculate that this folder is reserved and only to be activated once the iPhone 5 has been released. At which point the MediaStream feature will go live, allowing users to share pictures with friends instantly and automatically. 9to5Mac reports that the service seems to be utilizing MobileMe.

Another feature that was uncovered is Find My Friends. This service will allow you to quickly pinpoint all your iPhone wielding friends easily and accurately using GPS and a maps service of some sort, probably Google Maps.

Many news sources have been able to play around with the iOS 4.3 beta to see what new features are in store for iPhone and iPad users. One of the major new features is the 4-5 finger gestures. When iOS 4.3 releases, you’ll be able to sweeps your fingers to the left or right to instantly switch to ther applications you have running.

Another sweet gesture is the ability to close your fingers inwards in order to return the the homescreen. Although these gestures appear to only be featured on the iPad, it’s likely that Apple will implement similar gestures on the iPhone as well.

In Apple’s infinite quest for simplicity and usability, the ‘home’ button may soon be a thing of the past as these new gestures take its place. What do you think? Will Apple do away with the ‘home’ button in the iPhone 5 and iPad 2? Let us know. Check out the video below for a demo of the new features.