Went by Mongkok so had a look at the cellphone shops. As per Alfred’s post and the postings on local Mac lists, the 16GB 3G iPhones were indeed out in full force. Prices were 8800 to 9800 HKD or about S$1525 to S$1698. Way too rich for my blood.
Interestingly, with the stocks of 2.5G iPhones dwindling, the prices for them have gone up. The 16GB ones were going for about 5700 HKD! They used to be about 4000 something HKD. I guess the folks who don’t want the 3G connectivity and the poorer battery life of the 3G iPhone will still want a 2.5G versions.