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I stumbled across this tid bit of information:
http://9to5mac.com/ipod-iphone-price-drops-coming-soon-299-399-16GB-32GB-453677
http://9to5mac.com/ipod-iphone-price-drops-coming-soon-299-399-16GB-32GB-453677
We just got a tip that Apple is planning on dropping the prices again on the iPhone and iPod Touch line within the next month or two - perhaps at the late February event, perhaps as late as mid-April. Our tipster says that Apple will drop the prices by $100.
Also, the 8Gb iPod Touch will be dropped from the lineup according to the source. It might also make sense that the 8Gb iPhone would get phased out as well, but it wasn't mentioned in the tip. Inventories will likely be a big factor in the timing so we're keeping an eye out for shortages.