Before you rush out and buy an unlocked handset, you might want to consider the maths. It's just £183 cheaper than the minimum cost of a U.K. iPhone and just under $400 cheaper than an American handset, including the lowest contract term for the locked handsets. Let's not also forget that you'll need some kind of SIM card and network service on top of that thousand euros. We're guessing that an unlocked French iPhone is likely going to set you back an identical figure.
Of course, with this huge premium being demanded, I'm certain that the iHacking talents around will have people begging for more unlocks for the foreseeable future.