Perhaps the biggest reason to sit tight and wait out that AT&T contract is that the iPhone 5 is coming. It will likely launch in June or July 2011, based on Apple's iPhone release track record, and it will have the latest features and possibly (a big maybe here) 4G connectivity. In other words, if you switch to the Verizon iPhone right now, you may feel foolish in a few months when a better iPhone is available. We also have no idea what kind of deals the networks have made with Apple and whether the iPhone 5 will be available on AT&T before Verizon. Unless you're sure you'll really be content with the Verizon iPhone 4, it's smart to have a wait-and-see attitude.