After looking over the iPhone 3G information here on TUAW and on the AT&T website yesterday, I started thinking about what my wife and I should do with our "old" original iPhones.
Without a SIM and phone service, the original iPhone essentially becomes an iPod touch. You can still update it to the new software when it arrives, you can use it with Wi-Fi in your home, and you can use it to watch video and listen to tunes.
By keeping the old iPhone as an iPhone touch, I can get rid of some of the old iPods I have scattered around the house. What are you going to do with your iPhone after July 11th?