Would you go for this deal?

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Up until now I've not been fussed about getting a PS3 at all - I'm still very much enjoying the 360 on an almost daily basis. However, I've been offered this PS3/mobile deal that is quite tempting:

Samsung D900 - £169.99
500 any network minutes and 500 texts - £21p/m 18m contract
PlayStation 3 - FREE

Now, if my maths skills haven't deserted me, that comes to £548 altogether. I'm not really interested in the phone so I'd probably sell it on for about £100-120. The only thing that's holding me back is the contract as I already have one, albeit more expensive and not as good, that I'm tied into until December.
The other benefit is the PS3 is sent out immediately along with the phone.
So, is this a good deal or is there better out there?
 
Who is that with?.

I'm about to switch over from an Orange PAYG K750i to a contract phone as I am about to embark on my own small business. I need a "Line2" for business calls so I will be staying with Orange.

Seen similar deals in the national press but always thought there must be a "catch" somewhere?.
 
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