You know what makes way way way more sense than this?
If Apple dropped the price of the iPod Touch a little more and started advertising its ability to make calls over wi-fi using a Skype account.
Heck, they could even create their own service that works like Skype and build it into MobileMe. Anyway, the point is that they'd sell a ton more iPods...who cares if they sell more iPhones? If they're selling more iPods instead, then Apple doesn't care.
I'm not saying that will happen, but I find it more likely than an iPhone that doesn't have 3G! Yeah, that will make a great ad: The all new iPhone - Slower than before! 🙄 It doesn't matter that the 3G version still exists, that's a very bad ad to be putting on TV for Apple. And why make something that you can't advertise?