WAA: 2 new phones - iPhone 6 (4.7" diagonal screen) & iPhone 6 Plus (5.5" diagonal screen)
WYC: Your phone will get bigger in height & width. But slimmer either way.
WAA: Better cameras, iPhone 6 Plus has better stabilization
WYC: If you take blurry photos, the Plus will help. The iPhone 6 will still be an improvement, but the Plus even more.
WAA: Battery life isn't changing much
WYC: Battery life is important, but virtually no gains on this model. So expect about the same as you get now, maybe a LITTLE more.
WAA: It has motion/fitness stuff built in.
WYC: You could possibly replace your fitbit/jawbone/fuelband/etc with your new iPhone. Decent software for tracking everything you do - steps, stairs, running, etc. Will use more of these features with Apple Watch (keep reading). Want to know more? Jimmy Fallon & Justin Timberlake are apparently the new spokespeople in this official Apple video.
WYC: Why do you care?! Well duh, we're not all made of money like Tim Cook.
WAA: Old phones pricing - iPhone 5 is $0 w/ contract. iPhone 5S is $99 w/ contract.
WYC: In case you have an even older phone and don't care about new whizbang features.
WAA: Apple Pay - new mobile wallet from Apple
WYC: It could make some payments a little easier. Some big names (Walgreens, Whole Foods, Panera Bread), but will take a while to catch on. Could also create renewed competition/love for NFC from Google Wallet & Android devices. Claims (and appears) to be very secure. ONLY works with iPhone 6 & 6 Plus
WAA: Apple Watch (not iWatch)
WYC: The crazy 10-minute video is pretty awesome. It promises a lot. It's pretty appealing, smart, and customizeable. But it's starting at $350 for the base model (of 3). And it's not available until 2015 so you've got time to learn more and either decide or save for it.
That's it. Sure there's more about 2 billion transistors or 1080 resolution and all those other things but really who cares? You want your phone to do stuff, and do it fast. And just want to know "Should I upgrade?"
But if you do have another 6 and a half minutes to spare, take a look at the official video because it's not too bad.
Upgrades/Contracts - want to know if you're eligible for the upgrade? Check your carrier below:
AT&T: Dial (like you're making a phone call) *639# and hit Send/Dial. It will send you a text message with your eligibility. FYI the "NEXT" plan is NOT the upgrade. That's the payment plan option, so don't be fooled.
Verizon: Dial (like your'e making a phone call) #874 and hit Send/Dial. It will send you a text message with your eligibility.
T-mobile: Check with T-mobile. They've changed their mobile subsidization details.
Selling your old phone
I'm sure you'd like to unload your old phone and get a little cash for it. That sure will help when you're shelling out another couple hundred bucks for the new one. Good news - there are easier (and safer) ways than Craigslist. I've sold many devices via Gazelle. They give fair prices, free shipping & packing materials, and quick payment. Right now they're giving almost $200 for a base iPhone 5. Plus they buy all sorts of older versions and even Android. And there's no chance they'll rob you in a parking lot.