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An anonymous reader writes "Steve Jobs is notoriously frugal when it comes to buttons so the latest rumor emanating out of Cupertino might not come as a huge surprise. Apple is reportedly planning to do away with the home button on the next-gen iPad and iPhone and replace its functionality with multitouch gestures. And as luck would have it, the newly seeded iOS 4.3 includes support for new multitouch gestures, one of which is the ability to use a four or five finger pinch to go back to the homescreen" The attached video demonstrates the new gestures for switching applications and demonstrates how you could function without the home button.