Update: Engadget notes that, in fact, these are just the same old terms we've been living under for a while now. So, nothing new to see here. In other news, the sky is falling.
Here's the section we're interested in, emphasis ours:
... downloading movies using P2P file sharing services, redirecting television signals for viewing on Personal Computers, web broadcasting, and/or for the operation of servers, telemetry devices and/or Supervisory Control and Data Acquisition devices is prohibited. Furthermore, plans (unless specifically designated for tethering usage) cannot be used for any applications that tether the device (through use of, including without limitation, connection kits, other phone/PDA-to computer accessories, Bluetooth® or any other wireless technology) to Personal Computers (including without limitation, laptops), or other equipment for any purpose.
We're trying to get clarification on the "viewing on Personal Computers" clause. Smartphones certainly could be argued into that category, though the TOS use the word "phone" in a number of other instances. We'll let you know what we find out. In the meantime, you can read the whole TOS for yourself.