Sobs~ there's a catch on the pricing for iPhones...
Yes~ it will be cheap only for the ones that wants to go on a 24 months contract.
Telstra's lowest plan is $30 for 24 months where you have to pay $279 to get the phone, whereas for Optus, its $79 for 24 months and get the phone for free.
Optus released this information today, as follows:
the 8GB's is $729!!! and the 16GB is $849~ T.T
So far, no news from Telstra on non-contracts, but I presume that it will be similar.