I do have a question for you. I know about the iPhone from Verizon but if I buy from Verizon and oay ETF, will the phone still be locked under Verizon's network?
Buy what phone? The Nexus 4 isn't coming to Verizon. And Verizon phones (in general) are CDMA/LTE only, and can't be used on any other network. They're essentially "locked" because they're incompatible hardware-wise with other networks (except Verizon MVNOs, and even then that's a hassle).
Of the Verizon phones that
do have the GSM capability to run on other networks (aka "world phones"), they're not always unlocked. Verizon isn't very nice about unlocking phones unless you're a contract customer traveling abroad. Some are unlocked out of the box though, like we're seeing with the Droid DNA, so its kind of a crap shoot.
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I think you're forgetting that you have to pay for the first month of service.
You'd only pay the pro-rated amount of using the service for the first 15 days, presuming you cancel the 1st day after the 14-day grace period.
But yes, there are likely other charges to crop up over and above the $200 + ETF you'd think you'd be paying. Like the activation fee, taxes, and partial-month's service.