Best buy is offering a free iPhone 3GS if you sign-up for a new 2-year contract with AT&T. The deal is only good for the 8GB model and is available for today through Best buy retail stores or Best buy Mobile. If you have to equip your teens with mobile phones but they’re pining for an iPhone, now may be the best time. The iPhone 3GS is listed on Best buy as having a regular retail price of $499.99, but that price has long been knocked down. Typically the handset retails for $49.99 on contract. a $50 savings still isn’t too shabby and this deal is certainly meant to clear up space for the upcoming iPhone 5 running iOS 5. The iPhone 3GS will be the oldest Apple handset to still support iOS 5. In preparation for the iPhone 5, the iPhone 4 has also seen price cuts in recent weeks at various retail outlets, including RadioShack and Target. The iPhone 5, originally speculated for a September release, is now believed to arrive sometime in the first two weeks of October with pre-orders possibly kicking off in the last few days of September. source: slashgear via PhoneArena