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As far as the iPhone 5 and 4G LTE capabilities are concerned, the yes it will/no it wont rumours have been swirling around for quite some time now, but as Apple gets ready to officially launch the iPhone 5 this Wednesday, The Wall Street Journal writes that it has heard from its sources in the know that the iPhone 5 will indeed work on the fastest LTE networks worldwide, including those in Europe and Asia, although not necessarily working on all carriers in those territories where it will be available. As the WSJ notes, this is a good move for Apple, not just for their customers who want to use the fastest networks available on their shiny new iPhones, but also because it helps Apple keep step with competitors such as Samsung, who are already offering LTE-capable phones. Also good to hear that it will be available right out of the box in international territories, unlike the latest iPads LTE functionality, which basically only works in the US at the moment.
Source: New Apple iPhone to Support LTE Around the World - WSJ.com