Now, the 18-months-free deal would of course change that, but I see that as highly unlikely. If it were true, then that would be the cheapest way to get Cingular service, plus you get a mind-blowingly awesome phone essentially free. 18 months of service at, say $30/month, is $540. Even if you need to sign on to the 2-year contract (meaning, you're paying full price for that last 6 months and have to cancel or renegotiate), that's still one hell of a deal, essentially $540 discount for a 6-month contract. I mean, hell, I'd buy one and just never use Cingular's network, at least!
No, you're paying full price for the phone and getting 18 months of service free. Or you could look at it like you're getting a free phone and paying full price for two years of service. You're not getting "cheap service" and an awesome phone free.
I initially thought the 18 months of free service seemed unlikely, but if Apple's contract forbids subsidising the phone, this 18 month thing seems more likely. I say MORE likely. It still seems like it's too good to be true.