Everyone had the option of jumping on the bandwagon early (as I did) or waiting for the dust to settle and the market to determine what features and at what price the iPhone would be commercially successful. This type of early adjustment to marketing strategy is not unique to the iPhone; it happens to most new cutting edge products since the manufacturer does not really know what the market will bear when they first develop marketing plans for their new products.
No doubt that we early adopters paid $200 more then folks will pay from this day forward; the thing to remember is that we had use of our iPhones for that two month period that new purchasers did not. If that early use of the phone (or any new product) is not worth the price then you should not be an early adopter in the future since you will most likely always get "burned" in your opinion.
I do not feel that I was burned, I thought all along that there would be a lower price on the iPhone quite soon after I purchased one, and, I am actually surprised that the new units do not offer more features then the original in fact. Apple will not gain the market share they hoped to achieve unless they adjust their marketing strategy to meet the demands of their potential customers.
We all gain if Apple's new price point brings in another million new iPhone users that just happen to become new Mac (and Apple TV, Airport Extreme Router, etc.) purchasers as well (as many have). Apple won't will continue to develop the great new products that we all enjoy unless they have the sales and profits to do so.
Dave