I could see this being an issue if you were tethered (if they allow it), but otherwise, it's a nonfactor. I'm on my iPhone constantly and barely ever hit half that. And at least it's right there on the features page. Not some hidden limit ahem Comcast.
On the other hand, this might mean they will allow tethering, which I think would be better. Personally, I'd rather a 1Gb cap with tethering than unlimited without.
The fact that you can't tether the iPhone is a real annoyance - particularly when (like me) you're in a country with bandwidth caps anyway.
Just checked my usage with a Pearl. About 35mb. I do next to no browsing with images on. But what happens once I start watching videos and have 3G in NYC with the G1?
Even videos don't seem that bad - the resolution is small. Furthermore, I don't expect to be watching full-length movies on my phone and even if so I would imagine I'd be plugged into a computer or something when downloading.