The iPhone 4 did not, but the iPhone 4S does exactly that, has both GSM and CDMA radios in the same phone. It was cheaper for Apple to put both in one phone than having to engineer two different phones.
You're quite right. My mistake. I looked that up specifically before I posted and I was still wrong
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And, all features don't work the same. I think the Verizon still will not allow phone use and internet use at same time? I hear it's Verizon not allowing it yet.
I thought that was a Verizon network technology limitation and not how the phone is provisioned.