Is the price cut of the 3G going to come into effect tomorrow?

With the release of the iPhone 3GS, will this result in the immediate price drop of the 3G at the same time? i.e. will the price drop happen at midnight tonight?

So can I just clarify. People are going on about this great price drop of the 3G but in fact there is not much of a drop at all, unless you already have an iPhone to be replaced?
How annoying, I thought you would be able to simply buy an iPhone for £61 which is why everyone was saying that it would kneecap the market. Rubbish.

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