I really don't understand how some here can still praise Apple for this decision. Wait, yes I can, blind fanboys. Sad, I used to be on of those too. Yes, maybe it is a good decision for Apple to have pulled it, and just not try for it anymore, but here are the facts.
It was announced two and a half weeks before its release that it was coming. A week and a half later it wasn't there. In late June we were told late July. In mid to late July we were told still Late July. In late July we were told end of the year. Now, we are told nothing, but can assume it's cancelled.
So, maybe it is a good idea that the white iPhone 4 be cancelled or whatever, but Apple deserves absolutely no praise for doing it now. Two times when they announced it in the past, it was within roughly two weeks of its release date- Apple KNEW it wasn't coming at those points in time, so they lied saying it was.
This whole experience really opened my eyes, I love their products and will still use them, but the people who run the company aren't really worth any kind of praise or gratitude.
Sounds like you're really overreacting. Turns out manufacturers cant' mass produce the phone to apple's specs so they canceled it. Is this really going to ruin your day/week/year?