I've never tried it before but having got myself another android device, I wouldn't mind trying to tether it. What I'm not sure about is, do I get billed as I normally would be if I was accessing the net from my smart-phone?
I think tethering is good if you have an unlimited data plan. I'm not so sure what the cost will be if you don't have an unlimited data plan. Since I have a fixed sum of money to pay each month and I am allowed to connect to the internet 24-7 without limit, I could say that tethering could cut internet costs. I don't have to pay for the connection of each and every electronic device I have because I could already tether the connection to another device.
This is true. It's only profitable if you have an unlimited plan. If not, mobile internet will always be more expensive. It also depends on what you need. I wouldn't like browsing the internet on a slow 2G network. I'm used to 3G and even 4G now so I already feel like a website is stuck when it is loading for more then a minute.
Tethering is pretty much making your phone a wifi hotspot and that means whatever bills you would pay using internet directly from your phone, you would pay those bills if you were tethering but using your phone to provide the internet service. If that makes any sense.
Far fewer people have unlimited data plans anymore - those were mainly for people who were grandfathered in from previous plans. When it comes time to renew they are generally putting you on limited plans that have monthly data caps. I only use tethering when my cable goes out and I am working on something important. However in terms of tethering your cell phone vs. paying your cable company for an internet connection, using you cell phone's data plan is much more expensive on a per GB basis. Unless you are very careful to not watch any streaming videos or music, limit your internet usage, and not download big files, it can be quite a challenge to keep your connection within your cell phone's cap on data per month. Especially if your computer is downloading updates in the background for all your programs. It also makes your cell phone get really hot while you are using it as a WiFi hotspot - no pun intended.