I asked this while chatting with a rep online the other day and they said yes, it does support simultaneous voice and data. I'll have 4g lte access, not sure if that matters.
Voice runs on cdma. Since data if in a 4G location runs on lte its two separate radios allowing you to do both at the same time. However if on 3g most phones with cdma don't have this ability.
This is one of the few drawbacks of the Verizon (and Sprint) GN2.My GS3 supports voice and data on verizon. I live in a 3G area still and it works good. I can't see them going backwards in tech. Verizon is CDMA though that's probably why it doesn't work on Sprint. I didn't know the Iphone 5 wouldn't support voice and data, that cracks me up. That's what happens when people buy a phone based on hype and don't do there homework.lol
This is one of the few drawbacks of the Verizon (and Sprint) GN2.
The GN2 uses the Exynos? 1.6GHz Quad-core processor that does not allow SVDO on 3g.
The GS3 uses the 1.5GHz x 2, Qualcomm MSM8960 that allows for SVDO on 3g.
Although I have good LTE coverage in my area I often see my phone revert to 3g in certain buildings or areas.
Luckily my Thunderbolt was the first Verizon phone to be able to do SVDO over 3g. I don't want to go backward so that is why I wish Samsung had used the Qualcomm S4 Snapdragon instead of the Exynos.