The parody is pretty funny! And while I don’t have an iPhone 3G, I have actually had the music stutter like that on my 3GS twice, though not nearly that bad. But it makes me think there is a problem is general with iOS 4 that will be fixed soon.
That said however, I do find it interesting that everyone I know with an iPhone 3G, and a LOT of people I don’t know what an iPhone 3G, are complaining about this. They say iOS 4 seriously slowed their iPhone down. I suspect Apple will be fixing this in an update. But it’s got to be pretty frustrating for those who are used to trusting Apple, and clicked “update” when the notification came, and now have trouble using their phones!