I really wish Apple wouldn't define the largest products as the "best". Some people simply have different size preferences or needs. Why should the 4.7" phone lack OIS?
It's the same with the iPads, if you want a full sRGB color gamut, then you MUST buy the big one, not the smaller one. Why do Apple think those who prefer a 7.9" tablet dont' deserve the same quality screen as the big iPad?
Will it be the same with the iWatch? Only the big-wristed mofos get the greatest features, while us small-wristed men and women are stuck with an inferior iWatch?
I think it's okay if there are several differentiations between 4.7 and 5.5 inch phones, but Apple has to be VERY careful with this. The iPhone is not unlike the iPad, in that the people who buy the new iPhone expect to have the latest and greatest for the next year when they upgrade. If the 5.5 has too many add'l features, it will make the 4.7 phone buyers feel like second class citizens, and these are the core buyers who upgrade every year.
For me, I do not want a 5.5 inch but I DO want the very best features when I upgrade. Hope Apple considers that. The big differentiator for the 5.5 is screen size.