I am unflinchingly excited for the new iPhone, and even more so that AT&T has granted me an early upgrade eligibility. But why did they do it? Supposedly the subsidy on my 3GS, which is only a year old, is built into the life of my two-year plan. Is that $18 upgrade fee really going to cover the difference of a full year of service?

No. It’s not. So why is AT&T so ready to lock me in for what would only be an additional year. Here’s what AT&T says:

The reason we’re doing it is we recognize the commitment our current iPhone customers have made to us. We listened to people last year and took steps to make the process better. And we built on it this year by expanding further the approach.

Here’s what I say: bullshit. Of course you don’t want angry customers on your hands but losing even more money on each phone by selling it off to people who haven’t made up the difference seems crazy. You have to wonder if that Verizon iPhone rumor isn’t true after all. I know, it’s been denied up and down and back and forth and whatever other way you can deny it. But come on, is AT&T really that generous?

Early adopters always get pissed when a new device comes out. After all, it can be hard to justify spending another couple hundred bucks on a gadget that closely mimics your current gear. The iPhone is no exception, but luckily AT&T has your back (sort of – their network still blows).

AT&T is offering iPhone 4 upgrades up to six months early for a minimal upgrade fee of $18. That’s a damn fine price to get your hands on the new iPhone. If you’re like me, you probably cringed when you saw that six month figure. I got my 3GS last June on launch day, which leaves me a far cry from the six month upgrade window. As it turns out, that “six months” is a little more flexible than you’d think.

If you want to know your upgrade status, dial *639# from an AT&T phone and you’ll receive a text message concerning your eligibility status. I was pleasantly surprised to find that I was indeed eligible for the $18 upgrade. I’m definitely taking advantage – current 16GB 3GS prices range from $250-$500 on eBay. That more than covers the cost of the phone and the upgrade.

The iPhone 4 will be available June 24th.