Turn iPod Touch into pre-paid iPhone

[Armand2REP]

I bought the new iPod Touch 5G which is basically an iPhone 4S without the mobile hardware. I was playing with an VoIP app on my wifi and turned out it actually makes a pretty good phone/text/SMS. Of course the limitations of wifi access doesn't enable it to replace an iPhone, then I remembered there is such a thing as mobile wifi. I got a prepaid MIFI card with 2GB data for €25. Downside is it is only 3G, but it makes VoIP calls/text/SMS just fine and gives me all the browsing data i need for a month. There are 4G but the rates are so high you might as well get the regular plan.

Cons:
2 devices
# doesn't work for registrations
MIFI gets hot in the pocket during high use
3G is slow
2GB doesn't allow much video steaming

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Any thoughts, comments or experiences welcome!