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The unlocked iPhone works only on supported GSM networks, such as AT&T in the U.S. When you travel internationally, you can also use a micro-SIM card from a local GSM carrier. The unlocked iPhone 4 will not work with CDMA carriers such as Verizon Wireless or Sprint.
Ok I see the unlocked phones are
$649 for the 16GB model,
$749 for the 32GB and
$849 for the 64GB.
One question I have, if its suppose to be a world phone why doesn't the unlocked ones work on US CDMA networks?