Looks that way from this coverage map that the CEO used in his presentation last week. Verizon announced they would be "flipping the switch" on their 4G LTE service in 38 cities this year and would complete the rollout in 2012. 4G users should see download speed of 8 to 12 mbps! Initially 4G will only be available for some notebooks and laptop users via a USB dongle. 4G should be available staring early next year.
Sorry for the poor quality image - I did a screen grab from an image taken during the presentation.
http://www.engadget.com/2010/10/06/veri ... artphones/4G should be available in LA and San Diego by the end of this year
Of course the real question is whether the iPhone will be available on Verizon or not.
Verizon's 4G website