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...has brought AT&T's network to its knees, how could
they possibly deal with a few million more people doing
serious Internet on it through their PCs?

Also, I'd imagine that some of the fixed ISPs (Comcast,
TimeWarner, etc) would be against this as well. How many
people would give up their landline Internet connections
if they're already paying for and getting full-blown
Internet access through their iPhone?
ie8 fix

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