Shortly after iTunes 7.4 was released, users were greeted by the discovery of a MacRumors forum user which revealed a way to sync custom ringtones to your iPhone for free, simply by renaming files. Immediately following was a great deal of speculation as to whether this "loophole" was left open by Apple intentionally, or if it was a rookie-like mistake.

Unfortunately, the latter seems to be the case. Within 24 hours of releasing iTunes 7.4, users were alerted

When Steve Jobs announced, at the September 5th Apple media event, that Apple was cutting $200 off the price of the iPhone, many a cheer was heard across the US. However, almost as resounding were the jeers of early iPhone adopters who had essentially paid $200 for the privilege of owning an iPhone for two months or less.

Though penalizing early adopters financially isn't a foreign concept to Apple, and is in fact a reality that many Mac faithfuls accept, the magnitude of this scenario exceeded anything seen before by Apple customers. As a result, countless emails and complaints were reportedly received by Apple by customers who had purchased the iPhone previous to the price reduction.

In an open letter, published on the Apple website, Steve Jobs has offered an apology to the community. In the letter, he states

After some technical difficulties yesterday, we're back online and are going to endeavor to update readers throughout the day on some of the more interesting items that came out of yesterday's Apple media event.

We'll start with the price slashing Apple announced to close the media event (yes, sort of backwards, but so be it).

Jobs announced that Apple would be discontinuing the production of 4GB iPhone models. Though not particularly surprising, this may have seemed daunting to those who wanted to get their hands on an iPhone without paying $599.

Though it's been feeling a bit like we're becoming V-Moda's iPhone accessory headquarters around here lately, there's some news on the Vibe Duo contest front. For those of you that have been awaiting the announcement of the winner and perhaps wondering if we just decided to keep the earbuds for ourselves, fear not.

As both of the initial winners who were selected at the contest's closing have been disqualified for violating the contest rules, we will be

A rumor, originated by UK gadget magazine T3, is suggesting that Apple will announce the existence of a 2nd generation iPhone that offers 3G connectivity at it's September 5th media event, happening later today. Also rumored to be coming later today is the announcement of a confirmed UK release date for the iPhone.