If all the hearsay on the Internet is any indication, Helio — the joint venture between SK Telecom and Earthlink — isn’t doing all that well, despite pseudo-endorsement from everyone’s favourite Scientologist, Tom Cruise. If it was the standard two-year contract that turned you away from “Don’t call us a phone company” Helio, now you have no excuse because the MVNO has a new promotion.

If you’re a member of MySpace (and even if you’re not, signing up is free anyways), you can sign up for the Helio service without having to put your John Hancock on a two-year agreement. What this means is that you are free to take them out for a test drive, and if they don’t live up to your expectations, just cancel: there are no termination fees.

Of course, you’ll have to fork out at least a couple hundred bucks to get one of their two handsets. But hey, if their commercials are any indication, we shouldn’t be calling it “just a phone”.