As much as I loved the design of the 4/4s/5/5s, I wouldn't spend an "Apple price" on a device that looks so old already. Yes, I hate to be superficial, but I wouldn't want people to think I have an old iPhone. If you think about it, this design is 6 years old. It started with the iPhone 4 and then barely changed.
I want a small iPhone 6s/7 in iPhone 5s size, with the power button at the top. With rounded edges. In black. With the black leather case. That's what I want. The 6s would look good in 4", and I wouldn't even mind the antenna bands, as ugly as they are, because I'd have the Apple leather case.