Lots of threads on macrumors and other sites that highlight what your asking.
Some people say the Iphone 5 isn't a big upgrade from the 4S. So here's a question what's missing from the Iphone 5 to make it a massive upgrade?
iPhone 4/s = Mercedes.. iPhone 5 = BMW. More athletic and less refined.
Bad example, MB having much better meaning in auto sports than Bmw, presently no Bmw at F1 racing as example and plenty of MB there. MB having many sports models, not cheap but not less then BMW in power and speed.