We’ve been informed directly by T-Mobile that the price of the Samsung Galaxy S 4G will be $199.99 after a $50 mail-in rebate and agreeing to a two-year service plan. Previously it had been reported that T-Mobile said the phone would be $149.99, mostly because they did say such a thing, but the new official price is $199.99, we assure you. This is the phone we just took out of the box today right next to our cupcake Android friend.

Have a look at our peek at the phone right here: Hands-on, and be sure to say hello to vanilla with a cherry on top. Then take note that this phone will be available at T-Mobile starting on February 23, which isn’t that far away at all. Will it be worth it? Perhaps with the free copy of Inception, it will be. Or perhaps because it’s the next step in the evolution of the most popular series of Android phones to date, it will be.

We’re having a bit of a difficult time figuring out how it WOULDN’T be worth it. It’s got a fabulous look, it’s ultra-powerful, and it’s extremely fast. So fast, in fact, they’re calling it 4G. You can sit around and watch Leonardo DiCaprio talk about how he can put ideas in your mind, meanwhile the phone will be blasting you with Android waves so you’ll continue down the road into greenness.