It's a nice idea. Fair enough, it's not as practical as watching it on TV or on the internet (not to mention actually being there), but watching it on the move is a cool concept. In terms of sound and picture quality, some of these phones aren't too bad. Plug in your handset's headphones and the sound quality is great.
Not entirely sure about what you'll be paying for this though. Is it all part of the monthly fee or what?
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