That is a pretty good estimate for the total monthly cost. I am on an unlimited data plan with Verizon so with taxes, I am right around $130 per month for my phone and service. I would 100% agree with you that is too much for just a "phone" but when I consider everything I use my device for (taking photos, navigation, depositing checks, streaming music, Internet browsing, etc. etc.) it is worth $130 per month for a state of the art device and reliable, unlimited service. I know I could live without it if I had to but I spend enough hours per week on my iPhone that it is worth it to me keep up with the "latest and greatest".