If i put my t-mobile SIM card into an HTC HD7, will it work fine?

I currently have a jailbroken and unlocked iphone 3g with a t-mobile family plan. I would like to get the new hd7. Instead of upgrading and getting the hd7 when my contract expires in a year, could i buy a locked (t-mobile) hd7 on ebay and just put in my t-mobile SIM card? Will it work just like that? I understand i would not be able to access 3G, but wifi should work for sure. I just wanted to make sure if there would be any technicalities involved.
 
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