yes the BOM for 16gb iPhone 4 is less than $200
http://www.isuppli.com/Teardowns/New...o-iSuppli.aspx
add another $20 for the added memory for the 32gb model. But the pricing is really about margin. They purposely take a much bigger margin on the higher memory version because of the "perceived value" it generates. The ipod touch is seen as "smaller" in terms of functionality so they take a smaller margin on it to sell more