Idk later today I will be deciding for sure if I do the trade. It's a hard decision because I'm trading it with someone on Craigslist so I won't be able to just trade it back as if I got it from the store. I'm definitely going to miss the big screen and all the features. The main thing I love about iOS is there keyboard and emojis, Camera I haven't tried on 5S yet though hear it's very flawless then I hear it's not that Good I don't know about that yet. Also a big thing I know I will like is the fingerprint scanner so that's also a big reason why I want to try the iPhone 5s. And I'm stuck between Gold or the Gray I'm not sure which one yet. Also if I trade should I jailbreak the iPhone? I usually don't jailbreak my iPhones I only did once about a year ago .
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Hopefully prior to the trade you have at least spent some time in a local store playing with the 5S. Do your homework and test out things like the camera in the store. It should at least give you an idea on how you feel wielding a 4" device vs the Note 3, camera quality, etc.
What features specifically will you miss by trading the Note 3? I know they are feature packed, but which ones did you actually use that you will miss?
The camera is excellent, and far from flawless at the same time. It is just as capable of producing bad shots as any other camera out there. Part of the quality of shots lie with the person taking them. But on average, yes, the pictures turn out excellent.
I am curious how you are stuck between Gold or Gray if you are trading with someone on craigslist. Regardless, if you are going to put a case on the phone, then you are basically deciding between a white faced, or black faced phone.
As far as jailbreaking goes, no one can answer that for you. Give yourself an opportunity to actually use ios 7 to see if you even feel you are missing anything. If you can identify shortcomings, and through research can find that a solution to those shortcomings exists in cydia, then you will find your answer.