Not really outrageous. For the times I'm overseas, I turn on unlimited Data for an extra $30/mo.
I'm not really sure what you are saying by "VZW N1 processor is supposed to be capable of both". If it ends up having the hardware for GSM and CDMA but no sim card, VZW will give you a Vodaphone one free. If it is Sim Unlocked like my Saga, I can use any Sim even ATT.