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After the collective techno-orgasm everyone had this morning, its time to have a cigarette and think about things. One of the longest technology rumors has finally come true, and the company that originally passed on the idea of an “iPhone” now will have their own model that operates on their network. So should you line up in February and get your very own? Maybe. Honestly, Verizon customers have waited this long it would be in their best interest to wait longer. The iPhone released today is an exact copy of the AT&T iPhone 4 with a CDMA chipset rather than GSM. This means that it is a phone that is already halfway through its lifecycle, which historically has been one year between iPhones. Assuming that the next iPhone follows suit, it should be released this June. Recent changes to Verizon’s upgrade policy will lock you into your next phone for 20 months. This means when Apple trickles down its newest wiz-bang, must have feature this summer you will not be eligible to put it in your pocket until October 2012 (Unless you pay full retail). Another thing to take note is that in usual form-over-function style, Apple has chosen not to include Verizon’s new 4G LTE hardware because the “chipsets force design changes [they] wouldn’t make.“. In Q1 and Q2 of this year, Verizon is releasing a selection of devices that will operate on their new network, which is the fastest of the 4G-labeled networks in the US.

Bringing the iPhone to Verizon is a good thing for all Verizon customers. It brings a great deal of exposure to Verizon’s network, as AT&T has had in the last few years. Verizon has also said that they have taken extra care that their network can support the coming onslaught of new customers with data hungry iPhones. Improvements to their network to support this demographic means improvements for all Verizon customers. This should mean increasingly better data coverage, call quality, and overall level of service.

In closing, be smart about the choice you make in the next month. Explore your options when it comes to contract, so that you aren’t penalized for being an early adopter. Or just wait and see what happens this summer. Apple isn’t disclosing if the two US iPhone models will be on the same release cycle, so there may be a Verizon iPhone 5 this summer or it may be another year.