I'd do it. You're not locking yourself into a new contract by upgrading in this way and you'll have the newest technology that's available for iPhone at this point in time. I wasn't all the impressed with the retina display when i was checking out the iPhone 4 at the Apple store, but once I got and started using my 4....WOW...it's a HUGE difference from the 3GS-especially nice and noticeable for web surfing and reading. Not to mention photos. Oh, and the camera is better, too. Battery life is also MUCH better with the 4.