AT&T's purchase of spectrum from VZ and prior to that, NextWave:
The company's long-term strategy appears to hinge on spectrum availability. One can think of it like an oil company investing in untapped reserves although the spectrum, by comparison, is already proven and quantifiable which does not require any fudge factors to justify the end results.
Yes, it is a good purchase. A bit pricey, but you can't effectively grow the wireless engine without the spectrum. It's a good long term move. It's just too bad we had to help a competitor to help ourselves.