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10 points: two questions about this Motorola phone?

It is the Motorola milestone [ http://www.futureshop.ca/en-CA/product/motorola-telus-motorola-milestone-smartphone-milestone/10138344.aspx ]

My first question is this phone appears like it is no contract since it costs $549.97 (there is a clearance sale, so original price was $50 more). I am wondering, though, if I do buy this phone and pay the $549.97, will it cover everything and that I don't have to pay for anything again? What I mean is that since I assume it is no contract that the $549.97 will cover fees like internet/calls/texts/etc. etc. ? So as long as I charge the phone, that it is mine to use as long as I want (until the phone itself needs to be charged again) and as much as I want for free after I've paid the $549.97? The reason why I ask is because I'm not sure I really want to go the contract route, but have also read that some phone companies i.e. verizon will charge monthly even after having you pay up a large sum of money for a non-contract phone such as the $549.97 motorola that I'm currently interested in.

My second question is: is Motorola outdated overall? Uusually nowadays it's either blackberries or iphones. The $549.97 phone first came out in late 2009 and since then have had one or two other versions come out (motorola milestone 2 and soon to be motorola milestone 3 is also reported to come out). Though, the problem is I live in Canada and only version 1 (the $549.97 one) is available here I believe. So in saying this, would it be wise to buy a phone that is almost two years old, espeically with two newer versions already out (although, again, not in canada as i think only the version i want is available)?