Just out of curiosity, what makes the 5 $170 better then what you had? Not a flame, I truly don't know what the upgrades are and am just curious.
The screen is larger and is much nicer for watching streaming video and web browsing. I had iOS 6 on both devices, and the 5 runs it much more smoothly and seamlessly. The chipspeed improvement on the 5 means applications like Maps render so much faster in comparison to my 4s. They also have turn-by-turn directions that are excellent as well.
But the biggest deal for me is LTE. It's truly amazing how fast this phone streams and renders LTE data. It's compared well-if not superior to-WiFi.
For me, using iCloud & iTunes Match to stream my music collection, that's important to me. The improvement in data transmission and chipspeed means what I want done gets done with more speed, polish, and seamlessness than before.