I am using iPhone 5 since last one week so, here something about it...
iOS- Smoothest OS till now.
Design- You’ll fall in love with design.
Display- Soothing for eyes and much better then SUPER AMOLED.
Sound- Crystal clear on ear buds and very good through speakers.
Camera- Amazingly fast and capture best shot. Panorama is icing on cake.
CONS
According to me its ear buds jack which is on the bottom of the phone.
Price - Little higher but many people will find it good because Apple providing you world class UI...