Actually as i know, iPhone 5 has a new Apple A6 processor - Apple claims that it is twice as fast as the A5 processor on the iPhone 4S.
But, whatever you have faced same i have. Even, i think compare to iPhone 5; 4S is better ; )
The recently announced iPhone 5 gets a new camera with panorama mode that allows you to take panorama images. Thus you can capture 240° field of view with iPhone 5 camera.
Only the panoramic images? How about the 360° videos? These days, I found a new gadget for 360° photo & video capturing with iPhone. The name of the cool gadget is "HotPano mini", by attaching the fisheye lens to your iPhone, you could capture both photos and 720/1080p HD videos that have 180° FOV in all directions.
I just bought it from indiegogo. It's on presell. Search"HotPano" on indiegogo, you'll find it.
It gives my iPhone 4/4s a new lease on life. Haha