Paying $127/mo.with at&t, am I getting screwed over?

I just signed up for an individual plan with at&t. I bought the iPhone 5 & my plan costs $127 per month (includes insurance, 3gb data & unlimited talk/text). I was just wondering if this deal sucks. It's been over 14 days so I can't cancel it without any penalites, but I'm considering canceling it anyways & just paying the cost of the phone, $500 or $600, whatever it is, & then taking my phone with me to a different provider (T-Mobile, virgin mobile, etc.) whose rates are only like $40 per month for unlimited everything. Thoughts? Advice? I currently live in the woods in Virginia where at&t is really the only provider who can get me fast service at my house, but I'll be moving to Michigan in the Detroit area where I think I will get better service since I'm not in the woods. But, I'll still be needing to call home to Virginia to talk to my parents every now & again. If anyone could tell me which plan would be best for me money wise/service wise, that would be fantastic!

Yes wat a scam I would go to metro pcs you can buy a s4 for 500 dollars or another cheap phone and only pay 50 a month unlimited talk text web whatever you want

Way way way too expensive. It should be unlimited data. I live in the UK, but a similar tariff with the iPhone5 would cost about $80 or roughly £50. I never knew contracts could be so expensive, even 4G ones.