According to http://mgalligan.com/post/31415410863/buying-an-iphone-5-don... simultaneous voice & data is possible on Verizon's network, but only with LTE.
But overall, I've never been happy with any smartphone. I pay $80/month for unlimited data, 350 minutes, unlimited texts.
After time, it always slows down, becomes buggy, bluetooth link cuts out, or the entire phone crashes. I don't know if it's designed to do this or it happens through the process of apps being updated and the phone becoming obsolete. This could probably be tested... if a phone was never updated, ever but that could probably lead to some security/privacy issues due to app bugs, os bugs, etc. Just seems like $80 is a lot to have this thing constantly bug up.