I purchased the iPhone 5 w/ 16 GB back in 2013. And I just replaced it with an iPhone 7 with 256 GB in January of this year.
Honestly, the iPhone 5 was still serving me quite well. And I was still happy with it. Sure tech wise it was old. Sure, spec wise it was slow. But honestly I couldn’t find a complaint.
The only concern I had was Apple abandoning 32-BIT apps. But I quickly learned that it didn’t seem to affect me. I’m not the type that gets a lot of new apps. And everything was still working fine.
I made the upgrade for one reason. My iPod Classic got stolen. And the price to replace it put me in the realm of a newer phone. And considering that, I felt it made more sense to upgrade to a phone that had the space for all my music. Which is also more convenient. I now only have one device to keep track of.
So... I say all that to say two things. If you don’t fall victim to hype and upgrade fever, a phone will serve you fine for years past it’s intended obsolescence. And do so just fine.
Second, the iPhone 7 was a better price as a restocked (previously returned to my carrier) unit than any other currently available phone. I got the 256 GB iPhone 7 cheaper than a 32 GB iPhone SE, cheaper than a refurb iPhone 6s, and cheaper than the lowest capacity iPhone 8.
And my iPhone 7 has been operating great on every update I’ve performed since purchasing it. I currently have it on the latest iOS version 11.3. Absolutely no complaints. In fact, I actually saw one improvement in performance. In my experience, I’ve observed significant stutter in iOS on both my iPhone 5 (since iOS 7) and the iPhone 7 in iOS 10 and up, when you went to the Setting —> Cellular screen, and scrolled through the list of apps and their data usage.
However, with the iOS 11.3 update, this laggy screen was suddenly smooth as butter. Just like every other screen had always been on every other iOS version I’d used.
So I can say from my experience, that the only area I’ve ever observed lag on an iPhone (since iOS 7) was finally fixed (for me) in iOS 11.3.
Obviously I can’t speak for everyone else. But I can say that in my personal experience, I found no performance issues with my old iPhone 5. It put in a great life. And I’d be just as happy to use it today. It now sits as a spare if ever needed.
The iPhone 7, my only complaint is that it’s bigger than my 5 was. But I got it cheaper than an SE and with greater capacity. So I adapt.
Performance wise, no complaints. The only lag I ever saw was present since iOS 7 on my iPhone 5 on the same setting screen. And iOS 11.3 fixed it for me.
For anyone who may chime in and say the one laggy screen never existed. I don’t know about anyone else. I never asked. How much time does anyone spend on that one setting page? For me once a month. Wasn’t enough to care. So I never checked if that was common for others. But I have also never done a factory fresh setup either. I’ve always restored from prior phones.
My iPhone 5 was restored from my iPhone (original first model predating the 3).
My iPhone 7 was setup immediately from a full backup of my iPhone 5 which was then running iOS 10.x whatever the final iOS was for the 5.
So yes, you could technically say that I am running with everything carried over from 2007 to now.
And I’d say I’ve gotten pretty good life from what I’ve had.
I certainly am not worried about how far my iPhone 7 will go. If you’ve followed the clues in my response, I’m expecting it’s going to serve me for a long time. And it will likely still be serving me just fine after Apple pulls the plug on supporting 64-BIT apps (which should be a while away).
I’d say don’t worry about the difference between the 7 and the newer models... unless you are the type to worry about or desire the latest of everything.
I, however, am still happy with my 2006 Mac Pro. So perhaps that tells you how much I obsess on having the latest specs. And yes, that is my newest computer at the moment.