Note that in ordering the SIM card I did not indicate that I wanted any particular plan. The $30 plan just "happened" to be available for that card.
Was I willing to wait for one week in order to lower the bill for a large recurring cost by 40%? Yes. But T-Mobile seems to be gambling that most people aren't.
I've been using this plan for about a month or so and coverage has indeed been a little spotty in my area but it's good enough for my needs. If you do want to try it out here's a tip port your number: do NOT do select the option to port during the online activation process. Sign up and activate your SIM FIRST and then call in to initiate a number port request. Once you've activated and signed up for the $30 plan with a port request, there's no way to get a temporary number while waiting for the port request to complete.
[1] http://slickdeals.net/f/6332098-tmobile-99cent-sim-card-sale...