Good news... Apple Store was able to cancel web online order and had the iPhone repurchased at full price.
The "not-so-good-news" ... I don't have a Verizon account, so I bought the phone by applying for a new line on a contract. Since order has already been placed and in order for the Apple store to go through the return/repurchase, they have to complete the initial transaction which includes the Verizon line activation, and a $35 activation fee. Then, returned and repurchased, with no line associated with it since it is being bought full price. Then, was told by the Apple Specialist to call Verizon to cancel the activated line.
Then, after leaving the Apple Store, I called up Verizon to cancel. The Verizon Rep is telling me, they can't cancel it because Apple must be the one to cancel since they did the activation and RETURN on the phone. So, I called back the Apple Store since I already left. At first, they couldn't understand the situation but in the end, was still able to help and to tell me that, I don't need to call Verizon and they (Apple) already cancelled the activated line when they processed the return. They confirmed to me that the deactivation was already placed and it'll just take about 24-48hrs for it to complete and show up in Verizon's system.
I spent an extra $35 for the activation because the Apple Online Store will not allow anyone to purchase without an existing line with Verizon. If you fall in line at the store, chances are, you will not go through that charge since you'll be able to buy a full price iPhone for any carrier from the onset.
The BEST news... it's carrier unlocked! So I can now confirm that if you purchase from Apple through TMobile, and full price with Verizon, it's carrier unlocked. Although I've been reading here too that Verizon has their iPhones sold through Apple at least sim-unlocked, but CDMA isn't.