If you like to receive incoming calls, yes. You can get 1-2 days standby on an iPhone. Good luck getting anywhere close with that combination.

In theory, no. In reality, the iPhone is a vastly better deal (unlike this, it actually works).

Having just bought one of these cards to run this setup exactly, I'm currently repacking it and returning it post haste.

Service is utterly useless, and that's putting it politely. Obscenely slow and reliably unreliable connectivity explain why Virgin can offer 'unlimited' data for such a low price.