No, it won't, thanks to the FCC and their "all phones must have E911 GPS capability", you can't just activate any old CDMA phone, Pretty much ANYTHING made before 2003 cannot be used, period.

I used to work for a verizon store, and this pissed off both myself and many many customers wanting to use older phones. (Startac, LG TM510, Bag phones, etc...)

This has another side effect being that only phones that verizon sells, has sold, or are the same model as a verizon phone can be used, since they use a whitelist of GPS-capable devices.