Well, I just checked my device, and it definitely shows 400 MHz. At first I thought your phone was maybe 'stepping down' to conserve battery life, but my phone isn't running anything short of the standard apps while sitting at the Today screen.
Mine is a phone purchased as soon as it was available, and it was never patched with either the Sprint patch (which broke the keyboard in certain programs), nor with any other patch.
Does the CPU still state a QUALCOMM(R) 7500?
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