The only basic difference is they extend 1 row icon on the screen, and that is good. Also including a 4G LTE network (not yet available in PH) and a new re-design "nano" SIM (which is not yet available in PH). Fast A6 chip CPU (not yet quad-core but it is the first on the iPhone) gives X2 fast process compared to A5 chip on the iPhone 4S. If I am going to use the new iPhone 5 in PH, the network features and the new re-design SIM will not work, as of today.
If you plan to buy the new iPhone 5 and you have the money, go ahead. It looks like you are just having an expensive iPod Touch (5th Generation).
Since I love my iPhone 4S and it benefits me a lot, ill stick to it. Its the legacy iPhone of Steve Jobs. If I want "only" to experience the features of the new iPhone 5, well... I rather use the iPod Touch (5th Generation), without the phone features.
