The moment that many have been waiting over 3 years for has finally arrived.

This morning, tales of early morning lines building outside of Apple and Verizon stores across the country are being shared as people race to get their hands on Verizon’s iPhone device.

Yes, this is the same iPhone 4 that was released last summer on AT&T. But both dissatisfied AT&T customers and loyal Verizon patrons who always wanted to be with the “in crowd” couldn’t wait any longer.

Besides a minor difference with the antenna, the phone – by and large – is exactly the same.

But if you are on the fence about changing to Verizon’s offering, there are some factors that may sway your opinion.

- PROS:

Less dropped calls – Sure we may be beating a dead horse here, but those who were able to grab Verizon’s device have noted that AT&T’s penchant for dropping calls isn’t just lip service. For the time being, the popular opinion is that Verizon’s network just handles calls better. Simple as that.

Personal hot spot – Verizon’s device can act as a hot spot for up to 5 devices. You can use it via Wi-Fi, or tether it using a USB port or Bluetooth. The hot spot feature runs $20 a month.

Unlimited data plan – For $30, Verizon offers unlimited data usage while AT&T offers up to 2GB for $25. Verizon’s generous offer may only be a short-term deal however, as Verizon hinted that it may push to put a cap on excessive data users.

- CONS:

Slower data network – While Verizon gets the people’s vote for better call service, it was also reported in numerous reviews that AT&T’s iPhone is flat out faster. Which is more important to you?

Verizon’s CDMA technology – AT&T’s GSM technology allows it to do things which Verizon’s cannot. Looking to talk while surfing the web? No can do.  CDMA also breaks down text messages after 160 characters and only works in 40 countries compared to GSM’s 220.

The iPhone 5 – Apple has said nothing about releasing the fifth installment of the iPhone series. Still, each summer since 2007, a new device has been churned out like clockwork. The iPhone 4 does not include a dual core processor, LTE availability or NFC technology – all things which are rumored to be included in upcoming smartphones later this year. The iPhone 5 would be an ideal candidate to include those features as well.

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To the shock of absolutely nobody, Verizon enjoyed “the most successful first day sales in the history of the company” Thursday morning with its pre-orders for the iPhone.

Those who missed out will now have to wait until next Thursday to get it. That’s when the device hits stores.

Between the hours of 3 and 5 a.m. Thursday, Verizon broke its sales record for a first-day launch and sold out sometime between 7:30 and 8:10 a.m. The exact number of pre-orders has not been released however, which makes some question whether Verizon is holding back its supply to generate more buzz (like it needs it or anything).

The giant wave of orders had to be expected, I’d imagine. For years now, those who swear by Apple and those who swear about AT&T were one in the same – stuck in a mobile Catch 22, if you will – but Verizon’s January announcement ensured that will no longer be the case.

Since then, comparisons have been made with the intent of deciding once and for all which is the better carrier for the coveted smartphone. The verdict for now seems to be slightly in favor of Verizon, but we’ll have a better outlook once the masses get their hands on it.

And it seems a good amount of Verizon’s masses will be. Apple Insider reported that 54% of Verizon’s Android and Blackberry users plan to make the switch to the almighty iPhone. Yikes.

Again, the madness doesn’t stop here. February 10 at 7 a.m. will be the proverbial ‘dinner bell’ for anxious iPhone junkies who will no doubt stampede their way into Apple and Verizon locations across the nation.

Also, good news for those vampires who shunned sleep to make those early morning orders – some are expected to get their iPhones a full three days before they hit the streets.

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