Tech geeks have been soiling themselves since Monday in excitement over Apple reducing the cost of the too-nice-for-a-pocket iPhone to $200 from $400 and adding enhanced networking features. What people don’t know is that the plans associated with it actually make the iPhone 3G approximately $160 more expensive over the life of a two-year plan. The data plan has increased in cost by $10 and there are no longer any free SMS messages included.

So if you were excited that you can finally afford to place an iPhone on that restaurant table like the one next to everyone else’s steak, you may want to consider ordering the chicken carbonara instead. You’ll need to save a bit more than they did. Nicely done Mr. Jobs.

Gizmodo has the details.