Funny how we're all so excited about getting a phone that's nine months old and about to be replaced (or bumped) in the fall!
As many on this forum know, I have an original first-day iPhone (2G) that has faithfully served me well for almost precisely four years. Thanks in part to unlocking, in part to jailbreaking, and in LARGE part to Apple's incredible software updates, I have been able to push it far beyond what it could originally do, and as I say it's still very highly usable (apart from being unable to handle non-EDGE cellular data, and being stuck at OS 3.1.3, and having a really crap camera).
Finally, however, the writing was on the wall ... more and more apps that couldn't work with it or took advantage of features not included; later and more advanced OS updates I couldn't use, and an increasing need to be able to access data online "out in the field" (even though I am in a Wi-Fi environment about 95% of the time, seriously!).
So I waited like a duck hunter in Minnesota, and finally bagged a really good deal on a pristine iPhone 4 and took over a contract that was right at the sweet spot. Some tinkering left to do with the plan details, but basically I'm in a very good position both for now, and for the eventual 2012 iPhone.