Its the same ppl on here that are saying that the huge bezel on the top and bottom is a "feature"!?!?!?!
I wrote a fairly long post about why those spaces above and below the screen are there and they are absolutely there by design.
This is what I wrote:
"The spaces above and below the screen aren't there by accident. They perform a very important job - well, several.
When you hold the phone in one hand with the bottom corner of the device pressed into the middle of your palm (that's a fairly standard way to hold something like this), you'll notice that the joint where your thumb joins your hand is basically level with the bottom edge of the screen. This means you can reach down and across the screen easily, accessing the dock and other buttons that will be low on the screen. Now, try to reach lower than that. You'll probably find that, even if you have decent motility in your hand, reaching much below that point starts to take some effort. It feels less comfortable and, more importantly, a thumb pulled so far down is far less mobile and can't easily be used to interact with the screen. If that space below the screen wasn't there, that's where you would have to reach down to in order to use your phone - and that would be a very bad design.
The same argument works when you hold the phone in two hands in landscape. Hold your phone in landscape and imagine the screen went all the way to the edge. Now, imagine that the lower right and left corners contained a virtual stick and some buttons respectively. Now try to reach them with your thumbs. Uncomfortable, right? But your thumbs rest comfortably on the lower corners of the screen precisely because of those spaces.
There are various other benefits. A nice grip space for holding the handset in landscape when holding it up, maybe above your head. A space to grip the phone will handing it to someone or taking it from that person without touching the screen.
The front panel of a smartphone is not just about output - the screen is only one element. Those top and bottom spaces are there for the purposes of ergonomics and you'd notice if they weren't."
What is it about this you don't agree with?
Also, "huge"? On the 4s those spaces are about 1.5cm each. On the new one they're even smaller. I don't know if I would call less than 15mm "huge".