Yep, AT&T is covering the 3G modem part for the newer kindles. When I had a K1, it was Sprint.
The web browsing and everything is the same. I have a 3G one and when I'm in a good coverage area (even EDGE) it just feels like I'm on Wi-Fi, only I'm not.
If you have Wi-Fi everywhere already and want to save $50, it may be worth it.
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