I've been waiting for a year now 🙂 When I found out the iPhone didn't have 3G support, I bought a Helio Ocean instead. Not only 3G support, but also GPS and A2DP so I can use a wireless stereo headset (makes NO sense that the iPhone doesn't support stereo!) I live in the Seattle area, where I get a solid 3G signal almost everywhere I go, even waiting in the theater for a movie to start, even visiting my parents in Bremerton or my grandmother in Olympia.
I'd love to spend my government "free" $600 to buy an iPhone, and I'm even willing to pay the early termination fee on my Ocean to get one. But it has to have 3G, Edge is just way too slow for me. So yes, I'm waiting on the edge of my seat.