iPhone Portugal has posted videos of alleged iPhone 4/HD sub-frame assemblies that were purchased in China by one of its readers. The site goes out of its way to state that the parts weren't "stolen or found" but that they were "delivered to us." They also refuse to disclose the price.
It's impossible to tell if the apparent iPhone frames are the real deal as they don't appear to be stamped with the Apple logo or anything official like that, and no actual electronics are included, so they could conceivably be from a Chinese knockoff of the unreleased iPhone 4/HD -- lord knows there's enough pictures of that floating around.
The site goes on to say that the two frames it purchased are "more then (sic) perfect" with "no defects" and that there's "not even one difference between the 2 we have, this seems to be made in mass production."
(My video embeds keep getting munged, so you can also find the videos here and here JIC.)