I think Cingular must have done more than just Pay Steve for this chance- Maybe (probably not happening, but wishful thinking never hurts) Cingular will be giving us a very nice contract for that 2 year contract- something with excellent data and call rates.
I'm thinking along similar lines also.
I mean, aren't regular smartphones subsidised by Cingular et al, which is then calculated into the monthly costs? A price for other smartphones was quoted at $ 299 + 2 years right? And if the iPhone isn't subsidised, shouldn't this translate into reduced monthly costs?
Something to think about maybe...
In any case it's very hard to do anything but speculate about something that will only really come out in 6 months.