Actually I could see it being non-LTE.
I could too but Carriers want customers to use data. LTE is becoming a standard—not having it will be like not having Bluetooth or GPS. Apple supports their phones for 2 years with the 3rd year being a crapshoot on support, so the question really is: what's still going to be somewhat relevant 2 years from now?
I think a lot of people here are forgetting the bigger picture: Apple is still going to continue to sell the (now) current iPhone 5 but at a lower price. So Apple's lineup is going to look like this:
iPhone 5S ($199)
iPhone 5 ($99)
iPhone C ($49? or free)
I would bet they're going to drop the 5 designation on the C model since it would be confusing with the (now) current model. What's to differentiate between the 5 and 5C then in a consumer's mind? I think this would also allow Apple to use whatever specs they want—not using a number frees Apple from whatever confines the previous models had.
iPhone C is going to be very similar to the 4S, same camera, different case but possibly having much of same innards as the iPhone 5. I think Apple would love to get away from supporting the 3.5" retina display and move all of them to 4" but I don't think it'll happen yet on this interation and the top 2 models will have the same screen with lower priced model keeping the smaller screen. The C model won't have Siri either.