In America there is a 2 year contract, where as in Europe there is going to be an 18 month contract, and due to the delay between the two launches the early adopters contracts in both Europe and America should end at about the same time. Possibly so that there contracts end in time for the release of the iPhone 2, 2 years after it was first launched, sounds feasable to me. I mean the current iPhone wont get majorly out of date as far as software is concerned, as software can be updated. But hardware wise it will, so in a years time they may release iPhone 1.5, with bigger storage, but iPhone 2 will be different. Just an idea.