Should I deactivate my iPhone acct and wait for my company to transfer my number?

you would have to pay $ 175 for cancelling your contract. But you can call up at&t; and ask them to transfer your number

I did the exact same thing. Just call AT&t; and tell them you want to port your old number. They porter my verizon number and I was sending and receiving calls literally whitin a minute. I would recommend calling them after getting a new number instead of using ITunes built in transfer system to anybody.

If AT&T; gives you any hassle, remind them that you're still within 14 days of activation, so you can escape your contract without penalty if you need to.