The Apple iPhone will be available in June exclusively on Cingular in the U.S.

The iPhone comes in 8GB and 4GB memory configurations.
You can buy the iPhone starting in June from Cingular or Apple stores.
The 4GB iPhone sells for $499 with a 2 year contract. The 8GB iPhone is priced at $599.

This is not cheap, but if you consider that it is a iPod video wihth 8GB storeage with 3.5 inch wide-screen paired with a tiny Apple computer that runs Safari browser, push email and more, the price is very reasonable. Not to mention that there is nothing like the Apple iPhone on the market. The new UI is just amazing and it is only 11.6mm thin. Plus the details, like music fading out when call comes in - this is Apple.

Hey, I am raving and Apple did not even send me a free iPhone.
More details on the Apple iPhone site.