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I agree. If you are going to explode every time you buy a piece of consumer electronics that subsequently gets improved or upgraded, you had better not buy any consumer electronics. The phone has been out for a while now with no hardware upgrades. Anyone with a brain knew an upgrade was coming. The price of Flash memory and RAM drops regularly. I'm happy to see Apple keep their product line current and competitive with the competition. This upgrade is a great enhancement, and I am not angry with Apple for doing it. Even though I paid $100 more for my phone than Steve38 did. ($600-$100 rebate).
Yuiichi is right on about your "value judgement" and If you didn't think the phone was worth what you paid when you made that "value judgement" you shouldn't have bought it. Just look at the new Verizon Voyager. $299 with the online rebate. If you want 8 Gb of memory, that's extra. They just provide the card slot. The 8 Gb card is $100. Their touch screen is a joke compared to the iPhone. You should feel totally satisfied with the value of your purchase, especially since they did not replace the 8 GB with the 16 Gb at the same price-point. Your phone is still for sale at the same price.
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Dual 2 GHz G5; 20" ACD; MBP 15"- 2.5GHz-4Gb mem-250 Gb HD-512MB Video; iPhones 2G/3G/3GS; 40 Gb iPod; Shuffle (2nd and 3rd Gens)
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