Buy.com Selling Unlocked iPhone 3G Legit Version?

I stumbled across a posting on one of my fav tech affiliate site, techbargains.com, and saw this few minutes ago. Upon clicking through buy.com's website, it looks like for $799 you can have a 16GB iPhone 3G unlocked or "never-locked". According to site description, you can continue to get full software updates via iTunes and won't have to worry about being locked. I am not sure what is the story with this iPhone 3G but leaning towards one of two theories:
1). Apple is trying to unload iPhone 3G inventories to make room for a possible new release in the Summer
2). Buy.com got a hold of some iPhone 3Gs unlocked from some countries which is required by law to have unlocked phones (i.e. Australia, Hong Kong, etc...)

Any ideas?

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