I swear these posts about Apple pushing this bla bla police doing that bla bla.
Personally I look at this whole thing this way.
1. The person that 'found' the phone knew damn well what he had in his hands. He knew who it belonged to, meaning Apple. He knew where the owner was, meaning Apple, he decided NOT to return it other than sitting in his chair whispering "did anyone loose this? no? ok then" but the bottom line was he knew what he had, he knew who it belonged to, he knew what the 'right' thing to do and he refused to do so.
2. Gizmodo knew DAMN well what they were buying. They knew that ANY type of 'prototype' was going to be stolen or aquired in some unethical/illegal/against contract means, and they bought it. After all they knew the story so the above leads into they knew how the guy got it, they knew the guy knew who owned it and where it should have been returned to and yet they decided to buy it anyway. Or in laments terms 'receiving stolen goods' which is more crime than it is 'who is your source that told you I walk around in woman's panties' and thus doesn't really qualify as needing journalistic protection. Journalism and theft are 2 different things.
So you say "how was he supposed to know it was an iphone?" well the posts before Gizmodo bought it clearly talk about it having been remote wiped etc bla bla not going to go copy and paste. But when you know who the owner is of something, and you choose to not return an item anyway, that is still theft and thus Gizmodo paying for it is receiving stolen goods, thus as far as I know does not have anything to do with journalism.
As someone once said in these forums (sarcastically of course) I can go buy a stolen car, and because I'm a blogger I am exempt from the law because I'm related to journalism.
Another way to look at it is what if it was YOUR company. You were developing a new product to rival others, some jerk bag 'lost' it (naturally I'd fire the guy!) and you want the item back because others could 'copy' your work. Seriously take the company Apple out of the picture and put yourself in it. You would want it back too. You knew who had it, they clearly know you are the owner of the prototype device and they aren't giving it back, yah, I'd file a stolen report with the cops too. Then either fire the guy who lost it or have them man an Apple kiosk in downtown Barrow Alaska.