You would need to pay for 1 month of your contract ($70 is the cheapest?), if you cancel before 30 days you have to return the phone.
Also, there has been no confirmation of the early termination fee being $175 for the iPhone.
(if it were to be $175 you would still end up getting the phone a bit cheaper than going with the no commitment option).
Slashdot Mirror
You would need to pay for 1 month of your contract ($70 is the cheapest?), if you cancel before 30 days you have to return the phone. Also, there has been no confirmation of the early termination fee being $175 for the iPhone. (if it were to be $175 you would still end up getting the phone a bit cheaper than going with the no commitment option).