Definitely get that iPhone unlocked before you sell it. You'll fetch a lot more.
After reading this thread, I'm tempted to pick up the nexus 4 and head over to straight talk
Without having the appropriate app installed on your phone you won't be able to remotely wipe.
You're fine with leaving the SIM card out. It won't deactivate anything.
I used to have an app installed called seekdroid (got it free from Amazon), and it has an option to remotely wipe the entire phone if stolen. You can also track the phone, but not sure how much help that would be.
Luckily i haven't had to use either feature
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