Just please check before you buy iphone 5 if all the existing docking stations and cables will fit it. I heard it will NOT be the case, forcing you to buy all new stuff to go with it.
I myself recently bought a chinese clone (not of iphone) with Android 4.0, for 1/3 of the price. Works fine (I needed a double sim) Mine has 4,7" screen of very good quality. I wouldn't go back now to a 3,5".