I direct you to Figure A (or just the image above). The basics are all there, including the dual lens setup that TagFerret told us about earlier. But there are a few mysteries that this image gives us. There's no clear function to the buttons on the side of the blaster or that trigger-esque looking feature underneath the main barrel. Also, I believe I've identified a folding hinge or, at the very least, a mounting point for the iDevice Holder. The black button at the bottom of the holder where it meets with the tagger body could be a point where the device could even be removed. Perhaps the blaster can function without the iDevice Holder or there may even be a basic LCD screen display that you can attach to the unit to play without the need for the iPod Touch or iPhone.
The fact that the blaster IS backwards compatible with the Lazer Tag Team Ops and Phoenix LTX systems means that either the iDevice and the App for this are also backwards compatible or that it can be removed/disabled for use with them. Because there's only a front Iron Sight and no way to see it in the current image of the blaster, I think that the screen either folds down or can be removed. If it does fold down to reveal the other side of the iron sight, than I would doubt the iDevice would need to be active when it's facing down. Either way, I think this fact strengthens the fact that this blaster isn't completely dependent on the iDevice for functionality, but rather is an enhancement for being used with other blasters that use the iDevice. This fact is also driven home by part of the press release:
Players can also play LAZER TAG without a device using the blaster's classic multi-player mode.So iPhone or not, you'll be able to enjoy a new breed of Lazer Tag this summer!!