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More importantly than speed is OS updates for security and storage space for music and photos.
I'm happy with my iPhone 4 (not 4s, just 4). I don't use most of the apps it came with and there are only 2 or 3 that I've installed, but I don't have phone space for new OS releases (and iOS9 doesn't support my device), pictures of my kids, or mp3 files.
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