You can put that sim in any phone you wish. Do you want to buy a phone from Optus or elsewhere outright or something on a payment plan?
Our new Optus Choice plans give you the option to pay in monthly instalments i.e. 12,24 or 36 months.
If you do decide to cancel, you'll just need to payout the amount owing on the device.
Kellie016 Friends of mine constantly complain about having crappy plans with stuff all data but hey at least they have the latest smart phone. If you can resist the urge to have the latest and greatest smart phone sim only plans are the best way to go in my opinion.