Yes, the iPhone 3G only supports 3.8 Mbps. But although the 3GS supports 7.2 Mbps, the AT&T network itself is just rolling out 7.2 Mbps coverage. Thus you still only get 3.8 on the 3GS, even though it supports higher speeds.
"I've found myself using my PC for a lot of conversations lately, and I'm also considering recording a podcast to share with anyone who will listen. There are tons of USB headset / microphones out there, and I'm hoping someone has some solid recommendations based on experience. I'll consider both headsets and standalone mics, by the way, but I'd like to keep the bill under $100 if possible. Help!"
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