goodandevo.com just had an article about this, it will work, but you won't be able to use Verizon's 4g service. I think the 3g will, but 4g is on different freq. Good luck and enjoy. I found the link, I think it's just the pre paid though...
Pocketables ? Taking your HTC EVO 4G LTE to Verizon prepaid
I have flashed my old sprint evo 4g lte to verizon prepaid. I made a few mistakes along the way, but I tested the flash this weekend and through today with ZERO issues.
My mistakes made resulted in me having to re-RUU my phone several times.
So start off with a stock ROM...
From the stock ROM achieve S-Off using a 32-bit Windows, or 32-bit Ubuntu. (The ubuntu can be put on USB and booted into)
Begin the process -
[GUIDE] HOW TO FLASH THE HTC EVO 4gLTE to Verizon Prepaid - xda-developers - Has the software links you are going to need to do this, as well as a couple of passwords needed for the DFS software.
How To Flash Htc Evo 4G lte To Verizon Prepaid - YouTube - Watch this video and complete the steps. Pay attention to unchecking the Fastboot option under Power.
DO NOT try to flash with any other ROM than stock ROM, you will have a bad time.
It looks daunting, but it is pretty straightfoward. Pick up the Gusto 2 and have VZW in a couple of hours.
Edit - CM 10 has issues with working fully with this phone for some reason. CM10 does not allow you to enter into the DIAG screen using the dialer.