Basically with GSM, you get a small little card which plugs into your phone, and that's what your account/phone number is locked to... which means you can change your cell phone as many times as your want, as long as you use that same card then your number wont change...
With CDMA however, your account/number is locked to the actual phone (no card)... so it will be more different to change phones (will have to notify and go through your carrier)...
GSM is also what's used in the rest of the world (Europe, Asia, etc)... So some of their phones will be compatible here and vice versa (not all though, since GSM has different frequencies too).... CDMA is only used in North America...
That being said, GSM in North America is relatively new compared to CDMA... so the CDMA network might be more extensive and offers better reception... This depends on the carriers in your specific area...
Hope that answers some of your questions...