Everyone’s been having the same thought, from what I’ve seen on the blogs and on Twitter: as iPhone users dump their current models for the new 3G iPhone, is now the time to snap up old iPhones and hack away? Hackaday picks up the idea:

Hackit: What to do with a 1st gen iPhone?

Thanks for the link to our music round-up, Hack-a-Day. (With more stuff coming out, I may have to update that soon.) Of course, if this gets real popular, even the old, discarded iPhones may have a price premium. But if you’ve got one you’re trying to get rid of, give us a shout.

Call it "jailbait." Erm…