UPDATE...
Just wanted to give everyone an update on the service so far. I've received my first bill and I've gone the Sprint store several times to make sure the plan is correct. Everything is up and working as advertised. I started my plan on 2/9/2006 and the billing cycle starts on the 12th of every month. I was only charged $2 for the prorated minutes from 2/9-2/11 and was charged $30 for the period 2/12-3/11. I also got my activation waived and my total bill after taxes and $6 charge for insurance was $46 and some change.
There's been some confusion about the type of plan and people not seeing the SERO plan on the website. Technically there is no "SERO" plan. The employee referral is just a heavily discounted "Fair and Flexible" plan. So if I go over my 500 minutes, I still pay $5 for every 50 minutes I go over. This is important if people are looking for the word "SERO" because it does not appear anywhere on the bill. Just make sure that you are being charged the correct monthly amount.
It also seems that opening accounts and getting a price match to phones is very much YMMV. Talk to the sales rep, be nice, and maybe with a little luck and some nice conversation, they'll give you a good deal.