If you’re looking into buying the new iPhone (5 or whatever it may be called) sell your old one now!
According to iPhone Hacks, August is the best time to sell your iPhone before the new one is announced. Past experience has shown that price drops become drastically more than before after the announcement of the new version of the phone.
I just sold my iPhone yesterday and I suggest you do the same.
The 4S 16GB currently goes on eBay for A$450-600 and you gotta be lucky to sell it close to $600.
Lets hope the new version doesn’t disappoint us like the “new iPad” and “iPhone 4S”