Mine is so sharp I can see the pixels!
I must ask though, is it normal (or do you all) see almost 'noise' in the small photos when you are in wallpaper settings or in Photos app? Is it because Apple is caching the images?
It isn't apparent when the photos are fullscreen, or in safari. Almost a 24 bit look to them. I didn't notice this on my iPad 2 screen (which I haven't had for awhile) and I haven't been near an apple store to check other units out.
Oddly Apples own Wallpaper images don't show the effect. It must be caching.
Here's a photo of my screen (iPhone 5 over saturates a bit)
I'm happy. Blacks are Black, Whites are White and it's pretty vibrant. Not as vibrant as my iPad 3 was, but it also doesn't have yellow corners! I actually have to turn the brightness down quite a bit for it not to hurt my eyes.
New more true to life saturation (Lower brightness):
Silly note: When taking the picture my iPhone 5's camera actually thought the address book man was a face!