Which iPhone should I buy?

I am due an upgrade from my LG phone... and I am stuck regarding which iPhone to buy.
The iPhone 3GS is cheaper, yet will they stop making updates for it soon? If I buy it on a 2 year contract, will I want the old iPhone for this long?
Is it really worth paying the extra money for an iPhone 4?!
Help!

entendu wrote:
I am due an upgrade from my LG phone... and I am stuck regarding which iPhone to buy.
The iPhone 3GS is cheaper, yet will they stop making updates for it soon? If I buy it on a 2 year contract, will I want the old iPhone for this long?
Is it really worth paying the extra money for an iPhone 4?!
Help!
I'd be inclided to wait for the iPhone 5 announcement. The 4 will be a year old this summer.

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