Fancy making full use of the unlimited data plan on your iPhone, but without the extra monthly tethering costs that your network might charge for this 'functionality'? MyWi is a jailbreak application that enables you to do just that.
The app let's you create a WiFi hotspot with your iPhone, to which you can then tether - wirelessly or via USB. Since Apple does not let you tether your iPad to your iPhone, this is a great way to get around the restriction.
MyWi 4.0 includes features such as adjusting the WiFi transmit power between 30% and 100%. The obvious benefits are that you can save a fair amount of battery power but this is weighed up against poor signal. So if you have your iPhone in your bag, and your iPad in your hands, you should be ok on a lower transmit signal. Other options for battery saving are to switch the In Use indicator from the blue pulsing bar to the status bar icon. Apparently this can save you up to 15% more battery power.
The best thing about MyWi however, is that it broadcasts your network name and hence there is no need to create an adhoc network on your laptop. Not only that but if you are already on WiFi, you can use USB Bridge mode to connect your laptop over USB to your iPhone's WiFi connection!
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