Providing I am reading the website correctly, If I purchase a phone over a 24/36 month term, subscribe to a $45 plan and $10 per month for "One Upgrade", it means that I can return my phone and swap it for the latest model anytime (there are potentially some fees based on remaining time of the contact, phone condition etc).  

At face value, this seems great - if I could afford it, I'd upgrade my phone every time a new one came out.  So $10 per month to enable this seems like a bargain.  

However, the downside is that any money I've paid off, isn't recognised.  So when I go in and get my new phone, the slate is wiped and we start again. (at least I think that's what happens).

Which makes it feel like a lease/rent?  If I kept swapping, I'd never own a phone outright.  To make this worthwhile, I imagine the more often I upgrade, the better? Upgrading costs $99 unless you're a long way through the repayment period.

Not really looking for an answer as such, just interested in your thoughts.  This is Geekzone - so I figured some of you might like the latest and greatest - anyone actually subscribed to One Upgrade?