Re: 5 or 5s
There's no way to tell YOU which one makes more sense because we have no idea what your situation is, if you need a new phone right now or if you have some time to wait and to be honest, with no information about the next iPhone even available yet, you could be looking at 3-4 months before another variant hits the streets. What makes more sense is to make a decision for yourself honestly...right now the only phone you can have between the two is the iPhone 5, so it's really not a matter of sense, but rather a kind of obvious choice.
If i had a 4S right now and i wanted a new phone, I personally would wait until fall for the newer iPhone to come out...If I had an older model phone I might consider jumping on the iPhone 5. No offense, but these kinds of "Should I buy or should I wait" threads are a bit silly because none of us are in your shoes, so me telling you to wait might not be the best situation for you...only you can decide that based on hundreds of details that only you know or care about.