Let the hive mind of Engadget get that for you.
"I just switched to Sprint from Verizon about three months ago for the Pre. Then I went for the Hero about a week ago. Now, I miss my hardware keyboard and am thinking about switching to the Moment. I am still able to switch back to Verizon if I want and get the Droid when it arrives. Should I just trade up to the Moment when it comes out, see if I like it, and if not switch to the Droid? Or something else entirely? Help!"
The talks were going right up to the wire, when Jobs evidently decided that the show must go on.
As Jim notes above, Steve Jobs announcing the iPhone radically changed the power relationship in Cisco's favor. Which I assume both parties knew about.
Cisco was apparently making demands and holding out for "openness" that Apple is not known for, and for a joint marketing strategy. This would obviously not sit well with Jobs. It's possible that Cisco deliberately stalled negotiations on this one to push past the announcement in order to have more clout afterwards.
All in all, poorly played by Jobs -- he should have sewn this thing up months ago. I assume he didn't because either he thought he could get out of it for a few million dollars, or because he didn't want to give away too much advance info on iPhone to non-Apple players.