Hi mam_fly, welcome to Flyertalk. There are definitely a number of valuable things you'll learn by reading the posts here.....hopefully you'll be able to contribute as well.
There are a couple of threads discussing this deal. Try doing a search in the American Airlines forum (I'm pretty sure that's where it is). Some people have apparently had problems actually getting their miles to post, so I'd read up on it before you do the deal.
Assuming you're able to get the miles to post, I think it's a pretty good, but not extraoridanary deal. 1000 miles at $21.95 a month means that you're paying 2.195 cents per mile. Another way of looking at it would be to take the difference between what you're paying now and what you'd be paying for AT&T. With the difference being $12/month, you're paying 1.2 cents per mile. That become a better deal.
All of this depends on how much you value each mile. And that's only a question that you can answer.
Hope that gives some food for thought.