I see that the Apple iphone as now been launched in the UK but is quite expensive (as you would expect for a new product)

My question is :-

Looking on e-bay UK i see that there are many of these phones being offered for sale at quite "favourable" prices, say £250 onwards.

These phones are being offered as unlocked to work on any UK network pay as you go,

am i right in thinking theses phones are mainly "grey" imports coming from the USA/ASIA etc and cannot have their software updated when needed as the will relock to their origanal network provider.

Would there be anyother pitfalls, ie they will only work with American English, not British English instructions

Any genuine views from phone experts please!