You're well off. Here in Ontario, I pay ~$75 a month (after taxes & extra fees) for 25mbit. I would kill for $60 40mbit service.
As long as they each gain the customers the other loses, they win.
When I moved a year later, they told me I would have to pay that activation fee again, because Bell treats move orders like setting up a new customer, and thus they can't waive the fee. I ended up going with another ISP that had a similar promo.
I suspect the New Zealanders are about to chirp in with their extortion-level rates :)
http://www.santacruzsentinel.com/capitola/ci_23040335/at-t-c...
(I'm on it too)
My only other option is DSL