I've got my son on this plan, with a reasonably good mid-line LG android phone (was $200) that was only $25. They raised the price but he's been grandfathered. (After 4 months of them double billing us and fighting with India to clean it up).
Overall, its exactly the same experience, good or bad, you would get with sprint. For some odd reason, all those big Cell phone taxes don't apply to prepaid. Just ordinary sales tax.