Just a little bigger than a small stack of credit cards, the new MiFi connects to Verizon Wireless' 3G network and lets you set up an instant Wi-Fi network for up to five pals (provided you're in Verizon's 3G coverage area, of course). Cool, yes, although not cheap.

Available starting May 17, the Novatel MiFi 2200 "intelligent Mobile Hotspot" may not be the first 3G wireless card to set up a private, portable Wi-Fi network—but at just 3.5 by 2.3 by 0.4 inches and weighing in at a hair over two ounces, it's probably the smallest.

The MiFi supports up to five Wi-Fi connections at a time, complete with "advanced security and authentication technologies" (including WPA/WPA2 and MAC address filtering, I'm assuming), and its rechargeable battery is good for four hours of "active" use or 40 hours of standby time, according to Verizon.

So far, so cool—especially for anyone who wants to share their 3G connection on the road, or (in my case, anyway) sneak in some wireless multiplayer PSP gaming or iPod Touch Web browsing while stuck in a hotel room.

Of course, the devil's in the (pricing) details. For starters, you can get the MiFi with a two-year Verizon contract for $99 (with a mail-in rebate). You can then choose from one of two data plans: $40 a month for 250MB of data, plus 10 cents for every MB over the limit, or $60/month for 5GB and 5 cents for every extra MB.

Another option: Go the no-contract way, in which case you'd pay $270 for the MiFi card and $15 for 24 hours of data (which might be a good choice for those who travel infrequently).

Personally, I'm torn. I love the idea of my own, portable Wi-Fi network—especially one that I can bring anywhere, without a laptop (or even a power cord). But seeing as I've already got a Novatel 3G USB card through Sprint for $60 a month (with a 5GB cap), I'll probably just stick with that until my contract is up.

Were I not under contract, though, I'd probably give the MiFi—which, from the looks of it, is small enough to keep in your wallet—a serious look.

What do you think: Like the idea of a portable, 3G-enabled Wi-Fi router that fits in a pocket? If so, how much would you be willing to pay (both for the device and monthly/daily data charges)?

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