Alltel had pretty much become a nobody. If they didn't sponsor a NASCAR team (do they still?), I wouldn't have known they existed.
There's still decent competition in the cellular market. AT&T, Verizon, T-Mobile and Sprint are the big boys. Almost every industry maxes out at three large competitors, so Alltel getting sucked up is no big surprise.
There will always be other smaller businesses. Metro PCS in Atlanta offers unlimited calling for $35 as long as you stay in the metro area. It's a pretty big area, but it's pretty much a glorified landline. I don't travel too much out of metro Atlanta, but I like knowing it'll be free.
I do wish the big companies would start a price war for the lower end. Most people don't need that unlimited plan, so that was a non-issue to me. A whole bunch of us would LOVE cell phone plans to drop $10/month because, well, we don't even use all of our minutes. I maybe use 100 minutes/month. I'd use more if I actually had people to talk to (and time to do it). I don't plan on buying a landline ever unless it's a last resort, which is why I'm all mobile.