So I spoke to a manager today. Phones going back to three and the £90 I paid for it into my pocket. Had a decent civilised chat. Didn't have a leg to stand on and apologized profusely. Here was the general gist.
1)I totally understand why the traffic management is in place and the benefits it brings.
2)I was not sold a contract that had any mention of said "traffic management" and actively advertised to not have any "hidden fair use policy".
3)I was given no prior warning so could not adjust my usage accordingly and was punished for a "crime" I was actively encourage to commit.
4)The throttling speed is far too severe at the point of being unusable
5)Three could not or would not give me a figure to work with to limit my peak usage meaning I would be constantly worried about having my internet throttled for a further 7 days.
That was basically it. Keep calm, be polite and know your facts. Had a decent chat and told him about the brewing media and customer backlash and advised him on what I recommended they do to find a happy medium.
Not bothered about keeping the phone. Had the ONE X three months out of a 24month contract. I think it would be pretty hard faced to think I could keep it.