We have no interest in holding a grudge. That's Apple's MO. But that's also why you'll see Palm Pre ads flanking our articles and not iPhone ads -- Apple refuses to allow us to promote their products through advertisements and has at times intimidated third parties into not placing their ads on AppleInsider as well. While this is an incredible disservice to Apple shareholders, it is what it is.
Your current iPhone continues to function until your new ones is activated. You just have to carry both around in the interim incase the switch happens when your out, because your current phone will lose service as soon as your new one picks up service.