I'm looking to get an 8GB iPhone 3G. I can't, however, sign a new contract for almost a year and I don't want to overpay for the phone. My wife is eligible to sign a new contract.

So what I was thinking...
What if she signs up for a new contract and gets the iPhone for $199 and gives it to me and then she just buys a cheap phone for herself out of pocket. She doesn't like phones with a lot of bells and whistles anyway. I don't think she wants my Blackjack II either because it's more than she needs. I'm just wondering if this would be my best bet. Or is there a cheaper way?