At first, VoLTE will be used to deliver "Rich Communications Services" (which look like something similar to what Voice over IP/Video over IP outfits offer today) rather than completely replacing narrowband voice. It will be awhile before Verizon is willing to commit to that, due in part to LTE outages in late 2011.
On the flip side is MetroPC, which has pushed VoLTE as hard as it could.
Then there's Sprint, which will stick to voice over 1x for the foreseeable future, but routes Direct Connect over IP. Sprint's latest DC incarnation seems quite similar to one facet of RCS over LTE.
I have no issues with texting over wifi, the only way texting will not work via wifi is if you are getting group messages or include any multimedia items such as videos, pics or audios. Group messaging is considered MMS so it will only send/receive once service is restored. Any input is welcome.