I occassionally use mine with my Playbook. It works well, but the battery suck is amazing to see. Can't help you with speed comparisons, though, since the PB is WiFi only.
I think the problem you may be having connecting is due to your unlimited plan. To get mobile hotspot, AT&T requires people to move to their tethering plan. In order to do that you have to give up your unlimited plan. This may or may not matter to some people. Moving will put you in a plan with 5GB, which to me is a ton - I seldom use even 1 GB. But at the same time, adding hotspot will no doubt increase your data usage over your current rate.
That's one of the things I miss about having a BB - the bridge feature between PB and BB gives BB owners a free data connection, and you don't have to touch any settings. Just pick up the tablet and start surfing. Not as fast as hotspot, but definitely cheap and easy. And you can still use hotspot if you need more speed.
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