I can never see spending $500 to $600 for a phone then $60/month before taxes.
My phone was free! Its durable as hell, I charge is once a week, it has clear sound quality. For $45/month I get 400 anytime minutes, Unlimited Verizon to Verizon Minutes, Unlimited Text/Pic Messages to other Verizon Customers, and 400 any Text/Pics.
For ME it is great, most of my friends are Verizon and I get awesome service in the Rochester, NYC, Long Island area.