Sort of in response to this question, how do I remove the mobile config that gets installed on the iPhone? Are there any side-effects as a result of removing that configuration such as the data connection failing to work at all?
I haven't noticed any side effects so far.
Should you wish to undo the mobile config, you can go to "Profile" in your iPhone general settings screen ("Profile" is all the way down to the screen), select it, and uninstall the mobile config on the following screen.
If you still have issues after that, just reset the network settings (no need to reset to factory).
I did notice, however, one side-effect after installing the profile and enabling iPhone tethering.
When the iPhone was synched with iTunes after the mobile profile was installed and used to tether, a new network device was added to my Macbook (the one that was used with this iPhone as a tethered modem and also that which this iPhone is normally synched with). There was a new Service named "Bluetooth PAN" installed as network device en7 in the System Preferences' Network Preference Pane. "Okay, that made sense," I thought, "as it is a new network device now usable by the Macbook."
But this resulted in a warning message upon the next restart/startup of the Macbook noting that this new network device needed to be configured. So, I simply opened the Network Preference Pane, selected this new device and clicked the Apply button and the warning message ceased to display again upon subsequent restarts/startups. "Okay, so whatever," I thought again, "that makes sense."
Then today, a few days after the above, I started-up the Macbook with the iPhone pre-connected to the USB (not for any particular reason) and upon completing the startup and login, I noticed that the iPhone didn't automatically start to synch with iTunes as I would expected. Rather I looked over at the iPhone and noticed the pulsing blue bar on the top of the iPhone display indicating that Internet Tethering was enabled. "Huh?," I thought.
Anyway, I simply returned to the Network Preference Pane and, sure enough, the Bluetooth PAN Service was listed as "Connected" with a green indicator "light" to its left in the Service list pane.
I next went to the Settings->General->Network->Internet Tethering setup page on the iPhone and turned off Internet Tethering. As expected, the iPhone stopped acting as a tethered modem and the Bluetooth PAN Network Service was again listed as Not Connected with a red indicator "light" and the the en7 network device no longer had an IP assigned to it.
So, my apologies for the diatribe if you're still reading this. I just found all of it quite interesting, though not necessarily a problem, per se, and so thought I would share the experience as a "side-effect" although not one from removing the mobile profile. Maybe, I should rewrite and repost this as a Question to other superusers?...