Quick question regarding plans

Hi Everyone, just wanted to get some info and make sure I'm understanding what I'm thinking about doing. I currently have the Unlimited Ultimate 1.0 Plan. My current iphone is financed through verizon and is "free". My plan is to pay off the balance in Oct in preparation to trade it into apple for the iPhone Duo. I will be paying outright for the phone and I will not be financing through apple nor Verizon. My question is what am I missing and or losing or missing out on from dropping the Unlimited Ultimate 1.0 to something like the Simplicity plan?

Comparing the two I see I'm losing a large amount of my hotspot but I am almost always home so that isn't a huge deal.

Is there ANYTHING I may be missing or overlooking?

Thanks everyone.