Sim free Lumia 920 + Sim only contract = Good idea?

I was looking through EE's website and calculated that the cheapest contract at £36 for 24 months and £129.99 for the phone is just a bit too pricey for me. I live in a non-4G area anyway, so it seems pointless.

Are there any drawbacks with getting the phone sim free from Phones4U and getting a (non 4G)(rolling) sim only contract from another provider?