If you’re unlucky like me and happened to buy a new iPhone 3G with a contract less than 30 days from the release of the new one (on or after 20th of May), AT&T will allow you to either 1) Pre-order and pay for the new one now, then exchange the old for the new on the 19th when they arrive (you will have to pay a restocking fee which varies by location, in Chicago it’s about $40). 2) If you can find a new iPhone in stock at an AT&T store before the 30 days expire, you can just trade them (and once again pay the restocking fee) without having to front money like you do with the pre-order. 3) Have $100 credited to your wireless bill in the next cycle.

These all seem like reasonable options to me. I’m glad that AT&T has chosen to do the right thing and not screw the unlucky among us. There are a lot of rumors flying around and very little actual information about this, but i can absolutely assure you that what i’ve said is true. I’ve already preordered the new one (16GB) for $199. If you don’t believe me, just give your local AT&T store a call.