The more I look into the implications of the AT&T and Apple iPhone contracting the smellier the whole thing gets.
It doesn't help that Apple is routinely locking discussions about contracts, such as this one: Apple - Support - Discussions - End Of Contract.
On the one hand an Apple thread I initiated concluded that if I were to buy a second iPhone, that I could sell my first iPhone - unlocked. On the other hand Apple has never admitted this publicly -- and they prosecute sellers of unlocked iPhones.
Doesn't quite add up.