Yeah, you're right, I didn't read your first post carefully.
Although I think Apple takes the hit as well. I don't think it was exclusively AT&T's decision to sell the 3g at a subsidized price. I'm certain AT&T's price on each unit was discounted accordingly as well. I believe this is why Apple had virtually all of the inventory coming out of the gate. Their (Apple) profit margin was smaller on the units they sold to AT&T vs. the ones they sold directly to consumers.
Anyway, regardless of the retail price, I'll definitely be in line come iDay3.