Lol. Awesome. I used it to connect my Xbox 360 Halo Reach SE to Live, and play a few rounds of Reach. Worked extremely well. I started a demo download to see what type of speeds I'd reach, got 1200kb/s on -96dBm signal.
During game play, download and upload never exceeded 60Kb/s. I did experience a few lag spikes but nothing that would make me concerned that the connection was bad.
After disconnecting, I checked my running apps. I noticed that the built in Hotspot app was showing as active. I'm not sure what that means, or if I'm being charged data.