When iPhone 3G launched in 2008, the base price was $199 on contract. The $199 contract phones have usually been $649 at full retail. $649 in 2008 dollars is worth about $717 in 2014, according to the BLS.gov CPI inflation calculator. I'm wondering if Apple really intends the $749 64GB iPhone 6 to be the new "base" phone that most people will buy, while the 16GB is a loss leader of sorts to preserve the illusion of no price increase. $749 today is in purchase power terms about the same as $649 a couple years ago.