Well the day that has been oh so talked about here at TiPb has finally come. The black 8GB iPhone 3G model for $197, and the 16GB black or white model for $297. So much for those $99 rumors although, you will save a measly $2 compared to buying it at Apple or Best Buy (though AT&T does have the 8GB for $99 refurbished).
So pick your poison. If you do happen to pick one up at your local Walmart, please share your experience in the comments!