OK I am disappointed with the 4S mainly because of same screen size, same external design, no LTE and recycling of the A5 we've seen in iPad 2 But I can live with that. I mean, it doesn't stink as a phone. However... My main reason for sitting on the fence is that iPhone 5 will be a drastic new design - much like the iPhone 4 was compared to 3GS. Retina display alone, was worth the jump last year And that's assuming that the iPhone 5 comes out next October, which I am pretty sure it won't unless Apple wants to lose their share to Google Android / Samsung. iPhone 4S is already an 'outdated' phone on launch date, lagging behind other phones that are same/lower in price. considering apple releases iPhones only once per year, with competitors/Android phones coming out literally every other week, iPhone 4S will be 'ancient' by the end of the year, or January at the latest Apple will be monitoring the sales and feedback and I can guarantee that the sales for 4S won't be as fantastic as 4 - despite the fact that there's been a longer gap since iPhone 4, and it is near Christmas season. At which point, Apple would be forced to move up the launch of iPhone 5 since with every device that goes over to Android, not only they lose another iOS device user, but also the money they would've made off of iTunes purchases I would feel a lot better about purchasing iPhone 4s (which I am not so sure about now that I've seen the specs) if there was some form of guarantee that iPhone 4S won't be washed out in less than a year, but at this point, I feel that apple will be forced to move it up, even if slightly. I saw a lot of pissed off iPad 1st gen owners - their device became 'old' after 9 months .... even 2-3 months for those countries who were on the last leg of launch. Along with that, used prices were slashed half literally - all within less than a year even for those who bought it on launch day I'd feel jipped if same thing happens with 4S - especially since iPhone 4 owners have enjoyed the 'prime factor' for much longer than the regular cycle of 12mo.