If nothing else, Apple is a whiz at PR and responds (generally) to customer complaints. In an open letter posted today, Steve Jobs addressed the anger early adopters of the iPhone have felt - and vented in various places - since yesterday's 33% price drop.
Therefore, we have decided to offer every iPhone customer who purchased an iPhone from either Apple or AT&T, and who is not receiving a rebate or any other consideration, a $100 store credit towards the purchase of any product at an Apple Retail Store or the Apple Online Store. Details are still being worked out and will be posted on Apple's website next week. Stay tuned.
In terms of the credit, all I can say is: Nicely done, Apple. This will go a long way toward customer satisfaction - and loyalty - and will make all the early adopters much happier, while leaving other device manufacturers still quaking in their boots.