If you follow the link at the bottom of this page you can pick up an 8GB iPhone that’s been refurbished for $249. For those not too great at math, that’s a savings of $150.
Now, I know that if you’ve waited this long to buy an iPhone, you’re either waiting on more storage capacity or you are waiting on the 3G iPhone. Regardless, at a price this cheap, it might be worth considering buying it anyways just to hold you over until the iPhone you want comes out, which could be a while.
Personally I’ve been holding out for the 3G iPhone, but with a price this low, even I’m considering buying one until the 3G version comes out. If nothing else, it’d be a great time to buy one and get in on the iPhone development program, or the JailBreak Development Program which is slightly less restrictive I hear.