if you visit the Hong Kong edition of the Apple store, you will find out that iPhones to Hong Kong customers are sold unlocked.
Read the small font under the prices:
iPhone 3G purchased at the Apple Online Store can be activated with any wireless carrier. Simply insert the SIM from a current phone into iPhone 3G and connect to iTunes 8 to complete the activation.
$694 for the 8GB model and $797 for the 16GB model, check yourself with a currency converter.
Not a bad deal; we only wonder whether these phones can be activated anywhere in a world. If you know more, let us know.
[thank you tipster]