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You guys do realize that $1.50/Gig is roughly $300-$480 a Megabit right?
Take Cogent for example. Your bandwidth cost is from $10/Mbps - $30/Mbps depending if you go with a 100/Mbps line or the Gigabit. That's a huge drop in overhead. If your worried about Cogent downtime then make sure the host is multihomed with a Tier 1 provider like Verio, Level3 or Above.net. If you're a smart webmaster you'd be interested in lowering your overhead to increase your profit margin.
Keep in mind that a hosts cost is not just it's bandwidth but the rent for the facility, rackspace, power, staff, office, routers (for the leet hosts), switches and new servers.
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