I don't think "global phone" means unlocked phone. I think it simply means that VZW will turn on the GSM radio to allow the phone work on GSM networks around the world, but you would need to use one of their expensive international roaming plans. An unlocked phone would mean that you could pop in a local GSM SIM card and buy some prepaid minutes and data. Of course, if you use a local SIM card, you get a local number so your regular phone number wouldn't be useable while you're using that local sim card.
I'm US-based and my T-Mobile blackberry is a world phone, which I can use anywhere in the world with GSM networks. But, I'm pretty certain that I could not pop in a local SIM card to pay local prices.
Until recently, I was an AT&T customer for my personal iPhone, and it's US SIM card would not work in my T-Mo BB, nor vice versa. Also, when I travelled abroad, I would buy an expensive international roaming plan from AT&T so that I could still use my iPhone. I asked a kiosk person in London once if I could buy a prepaid sim card just for data on my iPhone, and he told me that this would only be possible if the iPhone were unlocked, which it wasn't at the time. (Since then, AT&T has unlocked my iPhone and my t-mo sim from my BB works with my old iPhone, although only on 2G, so I was ale to prove that AT&T did unlock my iPhone.)
On my most recent trip to Europe, I tried to see if my Droid 4 would pick up any signal at all, and all I saw was SOS. So, because VZW has not turned on the D4's GSM antenna, at least not yet, neither the CDMA radio nor the LTE radio was able to pick up a signal in the UK. When they update the D4 to ICS and make it a "world phone" like the Razr/Maxx, I would be able to pick up a GSM signal, but that just means I'll be able to roam. I'm pretty sure it will not mean I'll be able to pop in and use a local sim card. If they truly unlocked it, it would literally mean that my D4 can be used on AT&T or T-Mo in the US using a sim card from one of these networks.
My friend has a Razr Maxx that recently got upgraded to ICS and I have an old T-Mo micro sim card (that's no longer active). Maybe I'll test out his Maxx with this t-mo sim and see what happens. It's not an active sim, so maybe it will prove nothing, but if it logs into the t-mo network even without the ability to make a call or send/receive data, maybe it would prove hat I'm wrong and that VZW has in fact unlocked their Razr and Razr Maxx phones. I'll let you know....