I think you're best off waiting until an actual announcement is made re: a Verizon iPhone. No one can possibly know the pricing and/or contract options yet (at least not anyone who's gonna post here).
Uh...well, since it has yet to be released or even officially announced by Verizon yet, the fact is that you know as much as anybody else does at this point.
Perhaps you should wait for the annoucement, which will surely tell you everything you need to know.