If you can't carry iPhone at least you can enlist one of the world's most notorious price gougers to help you kneecap the competition. Or so goes the wisdom of T-Mobile's newest prepaid plan. But hey, it's a pretty killer deal.

Magenta and Walmart announced their newest prepaid plan, which brings unlimited data smartphone users for $30/month without any contractual commitments. "Expected" to be available starting October 16 (what's up with T-Mo's sudden shift to total non-commitment on launch dates, anyway?), the new plan offers unlimited data, unlimited messaging, and a little bit of talk time each month for thirty bucks – with 5 gigs of that data available to you at 4G speeds. As the PR materials put it:

For $30 per month and no annual contract, customers can enjoy unlimited Web, with the first 5 GB at up to 4G speeds; unlimited text; and 100 minutes of talk, with 10 cents per minute after the first 100 minutes.

That's really quite a deal if you meet the following conditions:

1. Get good T-Mo service where you live and work

2. Don't want an iPhone (or don't mind using an unlocked iPhone limited to EDGE data)

3. Don't talk very much on your phone and/or use a VoIP service like Skype for voice calls

4. Can live with Walmart's selection of prepaid T-Mo devices or already have a compatible phone to bring to the party.

A PR representative confirmed to us that this plan will work with any compatible phone so, you know, if someone gives you an HTC Sensation and you can live with 99 minutes of talk time per month, then boom! $30 unlimited service, with 5 gigs of 4G data before you get throttled. Not bad.

The full details can be had in the press release.

Of course, WalMart also offers a $45 unlimited everything plan via their Straight Talk brand, but you won't get 4G data on that one. Anyone out there have experience using Wally's prepaid cell phone service? Give us the, ahem, straight talk, in the comments!