A line-holder goes about $175 to $250. At least that's the asking price. But the smart folks asking such prices clearly have failed to factor in the large homeless populations in both cities. Although they may not be as reliable as your average high school student on summer break, they are likely to be much cheaper and experts at holding their ground on public sidewalks.

In New York meanwhile, there are already two consumers lining up for an iPhone.

At last year's PS3 launch (and to a lesser extend the Nintendo Wii launch), there were people camping out as well. But iPhone seems to be catering to a different audience that can't afford to waste their time to stand in line.

But for both cases, patience is a virtue. By now there are plenty of PS3 to come by. And your hipness-factor is bound to wear off pretty fast once Apple makes available a second batch of iPhones.

Photo: Vicarious Music