I went to a school where we got a laptop to use.
We was bascially allowed to do anything except install games, commercial software and download illegal files.
There was no webfiltering/monitoring on the pc but they used it in the school network and they filtered porn sites, torrent sites and such and also blocked im and p2p software.
When I got home the computer had basically no restriction.
I think it worked out pretty well.

I couldn't stand living in your world.
I pay 30Euro/month for my internet 20mbit down and 3mbit up and its not the cheapest company either. Never been any major downtime only a few hours in total, I get up to 4 external dynamic IP addresses I can use and in the last 6 month I have uploaded 700-750 GB and downloaded around 400-500GB and I have experienced no throttling at all.
Guess the ISP operate a little different here in Sweden.