I too have recently upgraded from a notebook with embedded Verizon EVDO to one that does not have this ability internally. I had to make the decision of USB vs. MiFi. For me, the decision became a lot easier with a chance discovery. In the Fall of 2007, when I first started evaluating Windows 7 seriously, one of the proposed functions was the ability to support virtual WiFi connections. In the same way modern OS platforms support virtual Operating Systems (with virtual Network adapters), Microsoft proposed to support virtual network connections in the Core OS.
So, here we are in the Winter of 2009 and where is this ability? For whatever reason, Microsoft DID complete the code necessary to do this and it is included in the all versions of Windows 7 from Home Premium Edition on up. However, they did NOT include the Interface nor the drivers to do so. My discovery? A product called Connectify, which completes this functionality.
Connectify is a piece of software that you run on your Windows 7 machine that allows you to virtualize your network connections. You have the ability to make a WiFi connection and with the same adapter, create a WiFi Access Point with Security (WPA2-Personal) and allow others to share the connection. Do the same with your USB WWAN device and allow others to share by connecting to your WiFi Access Point. You can also use the software to create Ad-Hoc Local Area Network connections, but the security is reduced to WEP.
So, the big question is this: Does it really work? Yes, and splendidly! Let me give you an example. On a recent flight, I was offered a free in-flight session with the new GOGO WiFi Service. Once in the air, and free to use my computer, I attached to the service. Hey, I wonder if I can use Connectify to connect my Droid too? Yes, indeed! My seat-mate, watching all this with interest, asks what I am doing. I explain and he then asks if I would mind if he connects his iPhone for a bit. Now, if you have ever tried it, you know that the bandwidth of GOGO is not that great. Nonetheless, I passed him the AP name and password and in moments, he too was sharing the connection. As others around me started to ask for connection as well, I had to demure. It is a paid service, after all, right? It works great too with my Pantech USB UM175 Modem on Verizon. This gives me the ability to have multiple devices connect simultaneously to WWAN or share the connection with multiple people in those situations where it is the only game in town. Earlier in December, Verizon also announced that included in their Mobile Broadband plans is unlimited access to a network of WiFi Access Points across the US, including most major airports. Guess what? This works great with Connectify too. Connect to WiFi and then share the connection with your peripherals or friends. And all this just with your one built-in WiFi adapter.
Connectify recently released the 1.0 version of their software, which you can download at no cost here. It only runs on Windows 7 (32- or 64-bit), as well as Windows 2008 R2, but not on Windows XP, Windows Vista, and OS/X as they do not have the required support to make this work. Essentially any device, mobile or not, that can make a WiFi connection can connect to this Access Point. Are you allowed to share your Internet connection? This depends on the terms of service of your Internet Service Provider. Many have terms against reselling the connections, however sharing with friends, family and your other computers is generally fine.
So, in the end, I get the functionality (and more!) of the MiFi, but with better performance, greater control, and lots of options. Sounds like a winner to me!

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