Just a quick update...I survived the Apple Store lines, the wait, and even the horror of the staffer who dropped my iPhone 5 on the floor. Fortunately, it was still boxed. It mainly still is just sitting in the box. The anticipation was one thing, but the exhaustion has left me little time to investigate the function.
As many have said, it feels thinner and lighter, yet without any sense of being too light or flimsy. It's about the right weight. To re-iterate other commenters yet again, there is something almost odd about the taller design, but one needs time to see if there is a benefit. I am someone who has been swayed by talk of the larger phones and what they can do since I try to read and do as much as possible on my phone. I have long thought that the small tablet formats or very large phone formats would work well for me, but this is untested.
I hope to have a few minutes for this functional testing before Apple's latest gadget's guts are laid bare.