The O2 Surf@Home service delivers 384 und 64 kBit/s downstream and 64kbit/s upstream. The usage is charged based on online time. No pricing fixed yet.
Obviously the UMTS home modem is only interesting for the "jinxed" people who cannot get a DSL line into their home. The fun part is, most likely UMTS is also not available in those areas yet. Additionally O2 plans to first introduce the Surf@Home service only in city areas.
Sounds more like a nice field test, like most of the UMTS stuff out there.
More details on Heise (German).