The current announced pricing of iPhone is quite high. In my interviews with the press, i have noted that this pricing is not sustainable and Cingular/Apple is likely to drop the pricing on launch. Now, there is some more evidence of the above.

Online market research firm Compete Inc. surveyed 379 people in the U.S., most of whom had heard of the iPhone and have shopped for an iPod, to find out how interested they are in the device. The iPhone is a combined music player and cell phone that Apple plans to start selling in the U.S. in June.

Among the 26% of respondents who said they’re likely to buy an iPhone, only 1% said they’d pay $500 for it. When Apple introduced the iPhone in January, it said it would cost $500 on the low end.

Forty-two percent of those who said they’re likely to buy the phone said they’d pay $200 to $299.