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My concern is that even Apple doesn't think this phone is innovating enough to be a real successor to the iPhone 4.

I've been waiting to buy an iPhone for half a year, because I assumed that getting the iPhone 5 would be worth the wait. Oh, well...

The big clue I got to this not being a successor to the iPhone 4 was when they continued to call it an iPhone 4.

Just buy the new i4S. The i4 is a great, great device.

I've been thinking about it and I've decided that I will buy the new i4S. I am still disappointed, but you're right: it's a great product.