Thanks Ervius! I forgot all about the timebomb. I did confirm it, and as of March 1st, 2009, your phone will no long work. I don't advise testing this, as then you'll have to Hard Reset to make your phone work again!
Here's what happens if you set your phone to March 1st, 2009:
Notice there is no way to get out of this, and the Radio is turned off. As I said before, the only way to fix it is to hard reset.