At next week's Worldwide Developers Conference, we should find out if the rumors of a $99 iPhone are true.
Of course, savvy shoppers know that it's already possible to buy an iPhone for $99: For several months, AT&T has offered refurbished 8GB models for that tempting price.
(More recently, the company dropped the price of refurbished 16GB iPhones to $149, but at the moment those are out of stock.)
Obviously it makes sense to wait a few days and see what develops at the conference. After all, if you can buy a new iPhone 3G for $99, why go with a refurb? On the other hand, if the rumors don't pan out, you stand to save $100 (or $150 if you choose the 16GB model).
What's more, the only real downside to buying a refurbished iPhone is the warranty: 90 days instead of 12 months. That's probably a deal-breaker for some, but at least you can add an extended warranty and still come out ahead.
Personally, it's not the price of the hardware that bothers me: It's the $70 minimum monthly service charges. Forget the $99 iPhone--I want a service plan that's under $50. Somehow, I doubt very much we'll hear that kind of announcement on Monday. Sigh.