I actually like my iPhone 5 a lot more than I thought I would. I think the case I got makes me like it even more, as materialistic as that might sound.
I do a lot of photography, so the panoramic is really nice to have. And I use my phone for business a lot of the time, so the bigger screen is really nice too. And as weird as it might sound, my 4S feels heavy and bulky now. (I don't buy into the whole light/thin thing, usually I think bulky and heavy is better since it feels more high quality in a way, butI really like the design of the 5.)
I don't think I will upgrade for a long while now, I can't imagine them making it much better than this.