It doesnt void your warranty.
Yes it works I use it.
My detailed bill view via AT&T shows nothing different than if I search or used internet via my iPhone it gains access via the same wap.cingular portal as your iPhonne data does. So long as you dont abuse it and dont kill the 5gb unlimited cap we have, you should be fine. People use slingplayer ovoer 3G and lots of people have been using PDANet via Jailbreak, and theyve been fine for a while.
But it for sure doesnt void your warranty, its can be taken of and restored away.
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