From today, you can get the last generation iPhone 3GS (8GB) Black for $49 with a two year AT&T contract.
iPhone 3GS. More to love. Less to pay. Keep applications open in the background. Organize your apps with folders. Shop for books in the iBookstore. The 8GB iPhone 3GS takes advantage of all the great features of iOS 4. And it starts at an amazing new price — just $49.