DH and I have Verizon pre-paid phones. After our contract ran out, we looked at our options, and realized that their pre-paid phones would save us $50 a month. Their pre-paid phones are 3G instead of 4G, but we didn't have unlimited talk & text before. Now we do. The speed difference isn't noticeable, and the phones themselves (Moto G - $99 each) can do everything our contract phones could. No regrets whatsoever.
We looked at StraightTalk, too, but didn't like any of their phones. Their phone prices were higher, and the phones weren't as nice as the Moto G phones we got. (Granted, that was 3-4 months ago, so they may have different ones now.)
Verizon tried every way in the world to get us to sign another contract, so be prepared to "stand firm" if you decide to go with their pre-paid option.