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Personally I shall do what I did when the iPad 2 appeared: look at the spec and see if it's worth upgrading for me. In the case of the iPad 2 my decision was that it really didn't give me anything that I particularly wanted over my iPad 1, so I'm still happily using that. Likewise, I almost certainly shan't buy an iPhone 5 when that appears - my iPhone 4 does everything I want.
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