Telstra will offer the Optimus on its $49 cap plan, which makes it the cheapest Android phone currently offered by the carrier, though the data allowance of 200MB is a bit measly. If you don't want a 24-month contract, you can also buy it outright for $504. Telstra initially has an exclusive on the phone, though it may appear with other carriers eventually.
Tempted by the Optimus? Rather have a Desire? Rather have an iPhone 4? Tell us in the comments.