I have used a Kodak Zx1 HD Pocket Video Camera for the past year. It too is a 720p HD video camera but is a little bigger than the new iPhone. The big difference? The iPhone doesn’t have the ability to upgrade memory like the Kodak camera. However having the ability to carry one device that serves both purposes is worth the tradeoff.

It’s standard camera is 5 mega pixels with some enhancements that allegedly will help with low light snaps. It won’t replace my high end point and shoot digital camera – but I may opt to take the iPhone instead of my digital camera in certain situations.

Finally let me mention the retina display. Apple calls their new display the “retina display” perhaps because the images on it are so clear, you would need bionic eyeballs to see any imperfections. It is the most advanced display ever to be put on a smartphone. The human eye can only see 300 pixels per inch at about 10-12 inches away from the display, the iPhone 4 is a 326 ppi display.

With the lower storage model (16 GB) starting at $199 and the higher storage model (32 GB) starting at $299, it is important to find innovative ways to get the phone without having to shell out so much money. There are two options for those of us who will be eligible for the upgrade pricing but don’t want pay anything out of pocket.

First, you can go to a website called Gazelle. For example, you can sell your black iPhone 3GS 32GB for about $300 (as of the time of this writing). What do they do with these phones? They resell them on sites like eBay, saving you the hassle of doing it yourself. Obviously if your an eBay pro, you can sell it yourself which is our second tip. White iPhones sell for a higher premium on eBay than black phones, but you could yield $450-500 for a black iPhone in great condition. Have a white one? That could sell for $550 or more. Why do these phones sell for so much on eBay? Because unlike that iPhone 4, your used equipment does not carry with it a 2-year contract. And there are a lot of eBay shoppers who want the older models without the strings that AT&T attaches.

If you are not eligible for the upgrade pricing, the iPhones no-contract prices are rumored to be from $599-$699. Obviously selling your phone on eBay will not pay for a new phone, but it could put its affordability within your reach.