Agreed.. though it's amusing to hear it mispronounced 'Wifey' and 'Whiffy' when it's based on 'Hi-Fi' (though it has absolutely nothing in common, in practise or principle, with Hi-Fi)

You may find that your ISP's terms of use forbid you sharing the connection- though how sharing with someone on the street is different to sharing with your flatmate is a little murky.