So I have not seen all the new features of iOS5. But from what I have heard, there is no turn by turn navigation added to the OS? That was my deal breaker. I have been waiting for iOS5 to see what they will do, and their so called "new" features are pretty much all borrowed from Android. Looks like I will be selling an iphone 3Gs and an iphone 4 soon. This is pathetic. I hope apple sees this. There are a laundy list of stuff that should have been added.

Ability to make ring tones from ipod music
Native facebook integration
native turn by turn nav
much more customization to the factory skin.....or more skins for that matter.
There are many more I would have loved to see.