I noted a recent rumor about a prepaid iPhone, or more accurately, a SIM that you can stick in any AT&T, T-Mobile or unlocked GSM iPhone. The rumor is that American Movil, parent company of TracFone, Net10 and Straight Talk, will offer a prepaid SIM for Straight Talk's regular plans which include their $45 Unlimited Talk, Text and Web. Unlimited? Well, yes, for the time being. Who knows what will transpire if this approaches reality. T-Mobile and AT&T might object to any Unlimited users on their networks, but stranger things have happened.
You might want to grab (or hold on to) an old iPhone. It might become your new, less expensive friend.