Usually when a new iPhone is imminent we see discounts on the existing one. This latest round is no different with Best Buy now offering up the iPhone 4 8GB for just $50. Of course, the discount comes with a required 2-year activation.
Even with the activation requirement this is a solid deal. If you haven't already done the math, a new 8GB iPhone 4 usually sells for $599.99 and is then subsidized. In this case, it's $599.99 - $500 instant savings - $50 additional savings. This equals a grand total of $49.99.
As of this writing it appears that the discount is for AT&T and Verizon iPhones, with Sprint also offering the discount after you click to reveal the price. I'm not sure why Sprint would create potential confusion (I initially thought that Sprint was not offering the deal) but at least all three carriers are aligned on this round at Best Buy.
Apple is still selling the iPhone 4 8GB for $99, so it's definitely a deal if you don't want to spend the money for an iPhone 4S or wait for Apple to announce the iPhone 5 and then as usual, discount its existing iPhones.
If you want to take advantage of Best Buy's deal, it's valid through 9/1/12 and only while supplies last.