Just read this article from the New York Times in regard to Apple's iPhone price drop. In Steve Job's words:
"We have the chance to 'go for it' this holiday season"
I totally agree from a business perspective and as a shareholder to drop the price of the phone - it's perfect timing given the proximity to the holiday season and Apple will do very well for dropping the price. Price drops happen all the time - usually not this quickly - but it's just a nature of a capitalist economy. Just step back for a minute and think about the decision they just made from their position, it's definitely the right one.
And besides - that's what all you fanboys get for running out and spending $600 so that you could be the cool kid on the block :)