It looks like Cingular’s Treo 650 page went live at 9:00 PST last night. Surprisingly, they’re selling it for only $400 after rebates, with a 2-year contract. I was expecting a price closer to $600. In addition, PalmOne is now selling unlocked GSM Treo 650s direct for $599.

If I read Cingular’s web site correctly, it looks like I could get a 650 for $400 and swap to a new contract without paying any early termination fees, but I’d have to buy a new phone for my wife. On the other hand, going through PalmOne’s site makes it pretty clear that they can sell me an AT&T-locked phone for $549, but then I’d have to fight with Cingular to get them to add EDGE data support to my existing AT&T contract.

Frankly, this looks like enough of a headache that I’m going to put off dealing with it for a month or two. I mean, I’ve been waiting on the 650 since June of last year, I guess another couple months won’t kill me.