I also use the Media Max 200 bundle on top of a $40/month 450 minute voice plan for $20 extra. It tethers readily with my Powerbook as well as my n810. I use a V3xx razor phone that came with the plan for $100 and a two year contract. In the desert outside of Tucson, I'm getting 3G most of the time. I'm very pleased.
Although tethering is technically possible with the MediaMax plans & works fine, it is a clear and unambiguous violation of your contract with ATT. So I'd suggest that you may want to consider that before routinely tethering on a non-tether data plan.
The plans that include tethering are quite a bit more $$$.
Yes, I know that lots of people tether all the time on not tethering plans without getting caught.
Add me to the list of people who are immorally tethering on a MediaMax data plan. I read enough posts around here of people who were getting away with it, so I took the plunge this month.