@jdblake I fully agree with you. If I'm paying $30/month for UNLIMITED data then I don't give a **** what the TOS says. I pay my ISP $60/month to access the internet. Does it matter how many laptops/desktops/blu ray players/ipods hook up to my wifi router? No, it sure doesn't. And I don't mind if they throttle me if I'm using an insane amount of bandwidth.
Also, I only use tethering when I absolutely must on the road. I'm not just browsing away or downloading torrents. I feel that as long as I respect the amount of traffic I'm using while tethering, it is fully within my rights (not terms of service, but MY moral right) to tether on an unlimited data plan that I properly pay $30/month for.
Update: Looks like there's a HUGE (256 posts) thread over at My Droid World on this very topic, and it looks like every single possible argument has been made. So we might as well stop here. Go read that whole thread if you want to know every single detail in the VZW terms of service that you unknowingly agreed to. (Shout out to the South Park that pokes fun at the long iTunes terms of service)