This is not a "black vs white" iPhone screen issue not is it a "iPhone 4 vs iPhone 4S" screen issue.
This is screen color temperature and gamma issue. I'm guessing that the screen of the iPhone 4S (as well as many other consumer devices) are manufactured by more than one company. Company "A" probably has their calibration of their screens set at a different gamma and color temp than company "B".
My launch iPhone 4 (June 2010) had the more warm (more green to me) looking screen. I exchanged it with my dad's iPhone 4 that looked cooler and more blue.
This year when our family got the iPhone 4S, mine was the cool bluer looking one and my dad and brother's had the warmer yellow green higher gamma look.
I personally prefer the cooler tint and contrast, even though I agree that some detail is lost in the shadows, I believe it is easier to read in every day situations due to the blacks popping out more. The warmer screens look too washed out for every day viewing for me.
Ideally, Apple will create a "Color Calibration" tool for iOS, just like they have for OSX. This would solve everyone's problem as it would allow for color temp and gamma customization.
What do you all think?
I agree 100% with what you say.