Just purchased an on-contract iPhone 5 today after spending 10 days trying to find one at my local best buy and radioshack to purchase at the no-commitment price with no luck. Reserved one last night at apple.com and was able to pickup today. Opted fot the $199.00 16GB version and I'm ready to pay the $350 ETF verizon charges. I wanted to know if I can do this right away or if I have to wait for the first billing cycle to end? Anyone has any experience with these timeframes? Thanks!