Best Buy offering 8GB iPhone 3GS for free with contract today only

Get this one while it's hot: Best Buy is offering the iPhone 3GS (8GB) for free with a service contract today only.

Buyers will need to sign up for a two-year service agreement and smartphone data plan with AT&T to take advantage of this offer.

That's certainly one way to clear inventory of the third-generation iPhone. There aren't any extraordinary deals for the iPhone 4, and don't get your hopes up that Best Buy (or any other retailer attempting a similar offer) is clearing inventory for a brand new, unannounced iPhone right now.

(Although Radio Shack is reportedly knocking $50 off the price of the 16GB and 32GB versions of the iPhone 4 through tomorrow.)