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Also you have to make sure it's not forwarding GV texts to your carrier's number. If you're using a Droid you can just install the Voice application and set that to auto-sync, or tell GV to forward texts to your email.
^ This. If you have forwarding enabled then you will be charged for forwarded texts (and replies to them via messaging apps other than the GV app).
Just be sure you know what you're doing. Run with a text plan for a while and check your usage to ensure that things are working the way you expect them.
Note that using GV won't prevent your contacts from texting your VZW number directly. To avoid inadvertent use of my VZW number I don't even give it out. I can't even recall what it is off the top of my head.
If you can convince everyone to only text your google voice number, and if you're always within a data coverage area, then yes - it will work nicely to replace your texting plan.
But if people still have your direct cell number, they WILL text you, and it WILL cost you $0.20/message. Then again, it would take a lot of accidental messages to cost as much as even the cheapest texting plan, and if they are somebody you text a lot, you can easily convince them to switch to the other number for texting.