I completely agree. I for one did not ask my parents to purchase the iPhone, as we simply can't afford such a ludicrous rip-off. In my case, the product was a luxury. And I don't buy an over-priced luxury when there's cheaper alternatives.
I'm fine with my MP3 player, and borrowing my parent's cell phone and car GPS. They may all be 3 years old, but they work well enough so it's better than wasting money.
Look at your own possessions. Do you have an alternative already? Then keep using it, at least until the price goes down.
If you don't have an alternative, what's a few more months? By then the prices will have gone down world-wide, and Rogers will likely have been forced by consumers and by Apple to lower the rates.