Brb, since I already have the iPhone 3, I'm going to go spend another unnecessary $300 on the iPhone 4.
Seriously, they come out with a new one every couple of months. Only an idiot would keep buying them.
Same thing happened to me with Nintendo DS. I had one of the original ones. A year or two later, they have new ones. And they're STILL making new ones.
Anyone that wants to make their friends feel stupid, don't buy something when it first comes if your friend bought one, then buy a second generation one and rub it in their face.