Here's what you need to know:
Dubbed "Simple Choice," T-Mobile's plan will offer unlimited "everything." There are no data caps, no bill shock, and no hidden fees. Just one rate plan, which will cost $50, $60 or $70, respectively, for varying degrees of service.
You can either pay for your new smartphone at the full price up-front when you start your new plan, or you can pay off the device over time with additional monthly costs. What's different is that you can leave T-Mobile at any time.

They didn’t really kill it, they just front loaded the cost so you are paying as much for the phone as if you canceled the contract and paid the penalty.
I will never get into a cell contract again. Straight Talk gives you unlimited talk, text and data (for a smart phone even) for $45.00 a month. No contract.
Looks like they’re finally getting with it.