I would add a potential fourth advantage, which addresses an issue that may or may not exist with your ISP. Network traffic management. Some ISPs have been known to throttle certain types of traffic, such as video, ostensibly to maintain better service to their customers. With a VPN, the data traffic between you and the VPN is encrypted and the various network monitoring systems can't tell if you're watching video from the data format itself. As such, you wouldn't be throttled by the ISP under some automated algorithm - if the throttling is based on total data used, you're still going to be throttled, though, and you may find that the VPN itself results in poor throughput or latency, so you won't necessarily see improvements using a VPN, even if throttling is an issue.
Mike