Here's a quick test I did up on my roof a minute ago. I don't expect to see that much of a difference in good light (and I don't) although there's less noise in the iPhone 5 photo. I assume I will see a bigger difference one it starts to get dark. I'll continue updating this thread throughout the day with more test photos. Feel free to contribute and post your own comparison images!
Here are some 100% crops.
iPhone 4S:
iPhone 5:
And full sized images.
iPhone 4S:
iPhone 5:
Here are some 100% crops.
iPhone 4S:

iPhone 5:

And full sized images.
iPhone 4S:

iPhone 5:

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