Yes, you heard right! Ma Bell is slanging iPhones without plan obligations in the US for $400 extra without a contract. The unlocked devices will not allow users to switch SIMs however when they travel overseas which would negate most of the benefit of buying without a contract.
As it stands, it is hard to see why someone would buy without a plan because you can opt out of your AT&T plan right after signing up for much less money. This isn't a prepaid contract either, AT&T is still working on that
BTW, if you want to see how to get ready for AT&T 3G iPhone goodness check this video if you are a new c