I'd say people expecting a new redesign every year are being pretty spoiled & unrealistic.
Another dissapoint speed bump and increased battery life you say? Lets look at the 4S improvements shall we?
Dual core processor
Siri
Improved 5 lens optics
Increase to 8mp
Video stabilization
1080p recording
Glonass russian GPS technology
Improved battery life to 8 hours 3G talk time
Improved antenna to counteract death grip
Improved antenna to download HSPA+ speeds on Att
Improved speaker output
Sounds like a great improvement to me
Again, people who think Apple needs to change their style and come out with a redesigned model everytime clearly don't understand how Apple works. Look at the iPod touch, that hasn't changed design in years. Look at the Macbook Pro, that hasn't changed design in years. Look at the iPad, that hasn't changed design in 2 years (probably wont change on next years model either).
People whine and say "But, but, but... Android comes out with larger screen phones!" That doesn't matter. What matters to Apple is the fact that they are dominating the market and have become the most valuable company in the world doing what they do best.
Don't like upgraded internals? Tough...
Want a redesign ever year? Get lost... (to Android / Windows phone

)
People will disagree with what I am saying but that doesn't mean its not true and that what they want changes nothing about what Apple will do.