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O2 - deals (existing customer /cashback)

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With TT at the moment - but reward for being a long-term customer is the monthly cost has risen beyond offers to new customers. CS average (India CC), issues with link (line) drops, and much buffering on streaming media.

Looking at O2 as it appears to be a quality service. Have an O2 PAYG phone so thought I'd get 5.00 off BB, but it seems that cannot be used alongside cashback deals (I'm new to cashback).

But I'm confused because the O2 Website's 'half-price offer' to existing customers comes out at 19.25 (12 months) for The All Rounder - true unlimited BB and anytime calls (offer available only by phoning O2) - which is as a better deal than the cashback link for same package - 23.00/month minus 40.40 cashback (over 12 months equals 19.63/month.

So if I call O2 I can get The All Rounder for 19.25/month, and the main advantage of the cashback deal is I'd pay equivalent of 19.63/month (actual payment 23.00/month) but have 40.40 cash in hand - after some waiting period. Does that sound right?

If so, think I'll go for the 19.25/month as that will be a big saving on the (approx.) 36.00/month (daytime calls extra, so bill is inflated) I'm paying TT.
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