I currently have a Galaxy Nexus (with unlimited data). A few months ago I was out of town, and used my OG Droid with Wireless Tether for Root Users for a week without issue. I streamed Netflix, browsed the internet, nothing bad happened, it actually worked out really well.
My current ISP at home is threatening rate increases (I currently get 10 Mbps for $25/mo). I'm considering just dropping them and relying entirely on my GNex, whose 4G provides me with faster internet anyway.
I could start using Wireless Tether all the time at home, which would mean multiple computer, my playstation, etc. would all be using the data. I go through 40 to 80 GB a month, typically. Has anyone put this kind of major usage on their phone and lived to tell the tale?
Alternatively, I could actually go to Verizon and pay the $30 additional for their tethering function (although I don't know if I'd get unlimited or not). They might throttle me for my usage, but at least there's no chance of getting in 'trouble' for it.