My wife an I currently have iPhone 4, my daughter has a 3GS and my mother-in-law a 3G - all are out-of-contract.
I see a bigger screen, better cameras, LTE, a little more battery life and a new connector and I am not overwhelmed with the need to get the 5. Though new is nice, I do not see a reason to spend an extra $200 for two iPhone 5 over two iPhone 4S's (in fact, the new connector is a major negative for me as I would have to replace some accessories I use every day).
So, I am thinking that my wife and I get two 4S's and my daughter and mother-in-law get our old iPhone 4.
Did I mis anything that should cause me to reevaluate my position?
MotionMan