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I'm confused about the Verizon plan. I am a current Verizon iPhone customer with unlimited data plan. If I purchase an iPad from Verizon will my existing data plan cover me or do I have to pay for a second "iPad" data plan?

You have a plan for your iPhone. That has nothing to do with your iPad. Unless you hack your iPhone and tether.
 
I have unlimited internet access with tethering through TIM (Telecom Italia Mobile) for $17. My download speed is around 1-3mbps while upload stays under 2mbps.

Looking the prices you pay for mobile bandwidth I find it's very high. However, not much people does tethering here in Brazil, so it's like an undocumented feature. This scenario can rapidly change for worst.
 
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