From the looks of your question, it looks like you are asking if the iPhone now has dual sim capabilities, correct? Well dual sim and dual mode (dual mode is the ability for it to support two different frequencies (both GSM and CDMA).
Sadly, no, in answer to your question. You can not run two sim cards (well the CDMA one is called a RUIM - Removable User Idendity Module) simultaneously. Each sim card (allow me to call the CDMA that for now) will have to run separately.
There were some guys (in the USA) who could cut both the sim cards and fit them onto one, thus allowing one to have two sim cards in a phone at the same time. However, with this method they would have to switch between the two sim cards and could not receive a call on both numbers (as one will be off).
Worse still, that there is now a nano sim card slot (read even smaller slot) that will not work very friendly to you putting two sim cards onto one.
So, in conclusion, NO.