There’s been some buzz out there in the blogosphere about a possible price drop on the iPhone and iPod Touch. 9to5Mac got a tip from an insider source that the following changes might take place prior to the late February Apple Event happening at the end of the month. The rumored changes are as follows:

• 8GB iPhone/iPod Touch will get exiled to Siberia
• 16GB iPhone - $399
• 16GB iPod Touch - $299
• 32GB iPod Touch - $399

We all know that Apple is #1 when it comes to keeping secrets about release dates and such. I pity the fool that buys a Mac computer, only to find out a week later that a newer model has been released! Anyways, this could be the same path the iPhone is taking, as memory prices have been dropping, plus the announcement of a 3G iPhone is inevitable. Remember, Chief Executive of AT&T, Randall Stephenson, spilled the beans in November about a new iPhone coming our way.