I am a fairly recent switcher to Apple (Feb 2006). l generally love the products and have been extremely happy with the iMac and the iPhone. I don't necessarily drink the apple bathwater, but I do tout to friends and family the ease of use and intuitiveness of some of the products.
I agree with most of the folks who are disappointed with the price drop and regardless of what other people are saying in this forum, most companies do NOT drop prices on their products that much that quickly.
My wife purchased the iPhone as a gift for me

on August 17th. Yes that means I missed the 14-day return window by 4 days or so.
As any enterprising person might do, I called the Apple Store where my wife purchased the phone and explained my disappointment and I would appreciate whatever they could do for me. The store clerk was extremely rude, unhelpful, said "your out of luck buddy". I asked to speak with the store manager and the clerk said, "The Manager's too busy, call back later". Now this is my first experience with any level of Apple customer service and at this point I was even more upset. He could have taken my name, had the manager call me back, or something. But the shear rudeness was just appalling.
So I called the main Apple customer service number. The only way I could get to a person was to go through the menu system as if I wanted to buy an iPhone. I explained I was disappointed in the price drop, but even more disappointed in the way my call was handled by the local store clerk.
The guy on the main Apple line hinted at the fact that there really wasn't any corporate-wide policy on refunds aside from the 14-day rule. So he put me on hold, called my local Apple store, got the manager on the phone and pulled me back into the call. The manager apologized profusely for the store clerk. He said he couldn't give me a straight rebate due to my purchase being past the 14 days, but he did offer and "In-store Credit" of $200. That was good customer service and needless to say I'm extremely happy with the results.
I think I'll use the $200 to buy my wife the iPhone