The HTC Touch Diamond has really captivated our interest these past few days, because it represents one of the best-looking Windows Mobile smartphones this planet has ever seen. It’s absolutely gorgeous. As is the case with so many other HTC phones, it is to be expected that the Touch Diamond will go through a few different names in its lifetime and first re-christening has begun.

It seems that T-Mobile Europe is set to grab their version of the HTC Touch Diamond shortly and to follow in the naming tradition of T-Mo, they’re going to rename the Touch Diamond as the MDA Compact IV. But that’s not the best part. T-Mobile Europe is saying that they will actually sell the MDA Compact IV for free… assuming that you’ll sign onto certain plans.

The plans can’t be that bad, right? After all, I would fully expect the retail price on the HTC Touch Diamond — although the pricing has not yet been announced — to be in line with something like the iPhone, which still sells for about $400.