This is unfortunate to be sure for the people who live in these areas. However, from a business point of view, it makes (twisted) sense. Why spend millions or even billions to provide coverage to huge swaths of land where there are very few people? Vermont has a total population of ~600,000- in front of only wyoming in the battle for smallest population- so why even bother? You can spend a fraction of the cost covering NYC with HSDPA speeds and make a whole lot more profit than blanketing a large, sparsely populated state with EDGE.
Anyway, I live in Oregon, one of the states in which some people will not be able to get the iPhone. The state of Oregon has 3.4 million people living in it, and 2.1 million of them live in the Portland Metro area (Which has HSDPA/UMTS coverage). There are cities around the rest of the state (Bend, for example), but none compare to the population of Portland. Most of our state is farms and forest- it would make no sense for Cingular to build a tower to service 10 farming families and their cattle. It is a rather cool approach to the issue, but I am certain it is the way that Cingular sees it. They are not here to help people in rural locations communicate, to help you reconect with old friends, or to help you tell your family about your new baby. They are here turn a profit, and aparently, Vermont dosen't have a green enough bottom line.
Hope for an unlocked version!