Help with iPhone upgrade/return situation?

Last week I used an upgrade to buy an iPhone 3gs from the AT&T store and ended up paying about $250. Now I realize that the new iPhone is coming out very soon and I feel like I got burned especially because the 3gs is now on sale at Walmart for $97 with 2 year contract extension. If I return the phone at AT&T will they give me the upgrade back to apply to a new 4G/HD iPhone? Am I screwed? You would think the guy I bought it from would suggest I wait 2 weeks to avoid this situation.

thanks,

Trevor
 
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