.99 cents a month is stupid given that most credit card purchases require we put $5.00 into our PSN account and leave the credit sitting there. Why not just allow people to pay $5.99 or $9.99 or whatever and leave it at that - at least give us the option of buying our character outright and not renting them (I somehow feel dirty renting myself for .99 cents a month LOL!)
^ This. All of it.
I'd gladly pay a one time fee (say $5 per slot). But the monthly scheme just feels wrong to me.
As others have said, might as well just use free alt. PSN accounts.