Yes, up until AT&T figures out what you are doing. Then AT&T will switch you to a smartphone plan with caps. Should take just a few months before they figure out that you have a phone on a plan they won't continue to serve.
If you all ready have an unlimited iPhone plan, just swap the SIMs and set the correct APN. No way to get that from AT&T now if you don't all ready have it.
Only other way to legitimately get unlimited data is to get a plan from Sprint with another CDMA phone.
http://unlimited.sprint.com/?ECID=vanity:unlimited



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