Apple is using two cameras to create a shallow DOF, DSLR quality bokeh, and depth map of image:
The depth enabled features will come later this year as part of a free update — sounds like it wont be available at launch.
Meanwhile, the smaller iPhone 7 comes with a single OIS 12MP camera featuring a new 40% faster image sensor and an Apple-designed ISP:
For each 12MP photo, iPhone ISP performs 100 billion operations in 25ms:
Update: KTVU publishes the camera part of Apple presentation: