It really depends, if you happy to wait then wait. Although if youre the type of person and by the sounds of it you are, you get a phone and keep it, rather than upgrade every year then Id get the 4s.
No, than you must do the exact opposite: if you only get a new phone once every 3, 4, 5 years, than I would advise SteelBlueTJ to wait a few months. The sixth generation iPhone, which everybody calls the iPhone 5, will probably be announced and released in either September or October. That means SteelBlue only has to wait two (July, August) to three months (July, August, October) before a new iPhone launches.
SteelBlueTJ, you currently have a 'dumbphone' and I believe you're likely only to upgrade your phone once every three, four, five years (maybe even longer). Thus, if you want an iPhone I would strongly advice you to wait. Don't forget: the newest models last the longest.
In the meantime, I'd advice you to ask one of your family or friends to see if they have an old phone somewhere which you can use for now.
So again, I strongly recommend you to wait two to three months. You'll most likely get a (much) better phone
and the next-gen iPhone will obviously last longer (as in: get more updates and support) than the iPhone 4S.
If the 'iPhone 5', however, turn out to be a disappointment for you than you can still get an iPhone 4S (which will be $100 cheaper when the 'iPhone 5' launches). So waiting is, in my opinion, the best option: you will either buy an 'iPhone 5' which will have even more features than the iPhone 4S (for the same price the iPhone 4S currently costs), or you will get an iPhone 4S which will be $100 cheaper.