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You do realise that sticking the most advanced tech in a device just for the sake of it doesn't actually make a device better, right? You also need to tie in the associated software and services. We've already just about reached end game as far as where advances in technology can take us in mobile; the focus is now on the software and services and making them the best and most compelling experiences possible.I would like to see a bigger oled display. LCD is old tech. If I'm spending top dollar, I want top tech. It really is that simple. I don't care for accurate colors on a small tiny mobile screen. I want my screen to pop with color when all I will be doing is viewing it. There's no precious desktop editing done on a phone. So let's get off the accurate colors BS because it's not even all that accurate to begin with. I don't care for back light bleeding or a yellow tinged screen that requires me to keep going back to the Apple store. Just give me a better display like Samsung's Galaxy phones. Considering the SGS3 will be getting a brand new SuperAmoled HD Plus display, Apple really better do something with that tiny 3.5 inch LCD LG display. High dpi can't make up for screen size. But screen size and high dpi is a true high end display.
Then while your at it, get rid of the cheap glass on both sides, and get true Gorilla Glass 2 on the front. Put on a proper 2 MP front camera. Take out the weight so it doesn't feel like I'm carrying a brick in my pocket, especially in the summer when I'm wearing shorts. Then make sure you put in Samsung's quad core processors as Samsung's processors are THE BEST. I want Quad Core because I wan't my phone to last a few years so it can have all the features of the following iPhone 5S and iPhone 6. I don't want your trying to force me to buy the iPhone 5S because my iPhone 5 specs aren't good enough *ahem* siri.
Now the only way you can do all this is if you start innovating and stop suing everyone and everything under the sun. So Apple, you got the money, go buy the parts from whoever you have to, and put together a better phone.