Let's not forget that pre-iPhone smart phones were updated every couple of years (hardware wise, maybe some aesthetic changes if anything.) We'd see a refresh at CES, then a couple years after CES it would suddenly be on the shelves, probably with the same CPU, maybe a bit more RAM and the next version of Palm OS / Windows Mobile (Remember those? LOL).
Finally... bad move Apple? Really? You mean like, Apple should have decided to go back in time and prevent the earthquake and tsunami or something? Everyone is debating whether or not this is a "smart move" by Apple. If this is true, they don't have a choice! Supply constraints are supply constraints, there aren't other chip manufacturers without seriously sacrificing the iPhone's performance and reliability, and therefore it's reputation. For those of you unaware, this rumor, if true, is the result of a massive natural disaster that recently occurred in Japan, where a number of iPhone components come from! Yes they are assembled in China, but as the article stated, Chinese manufacturers aren't getting their parts from Japan like they usually do around this time.
It's crazy, people are freaking out talking about abandoning iPhones altogether because heaven forbid anyone wait a couple more months for something! I mean, it's what you want, but instead of waiting you'll "settle" for something else? Am I the only one who sees that flaw in logic? Maybe I'm biased because I didn't plan on being an iPhone 5 customer (no upgrade for another year and a half, so I'll be an iPhone 6 buyer), but I still think this whole conversation is silly. Apple is releasing much faster than anyone else had in the past, maybe not now, but had in the past, and Japan is a little inconvenienced right now, just in case you haven't watched the news.
Also, on Apple's hardware being outdated when it hit the shelves. It always had. I had a 1GHz phone when Apple released there 600 and something MHz iPhone (first gen). It finally hit near 1GHz (but not quite) with the iPhone 4, when there were ALREADY 1GHz phones out for a while (Droid Incredible, etc.) The software trumps the hardware, it's efficient enough it "feels" fast, that's why people buy iPhones, not because the hardware numbers are higher than on the competition.