Rumors have already been swirling about the next generation of iPhones, but today Apple officially debuted the iPhone 3G.  The new phone is not only twice as fast as the old version, but is also only $199, a significant price drop from the $500 when the iPhone first came out.

 This might just push me over the edge to terminate my Verizon contact and sign up with AT&T.  On the other hand, I would be pretty pissed if I had just bought the already-obsolete, old generation iPhone, which reminds me of the hilarious MadTV sketch poking fun at the constant innovation and redesign of Apple iPods.  Maybe by the time my Verizon contract is up in June of next year, something better will already be around.  

The iPhone 3G hits stores July 11th.  Watch the cool video advertisement for the new Apple heartthrob here.