When the 4S came out, many of my friends bought one and paid about £150 for the phone and £40 a month for the contract for 24 months. £1100 for an iPhone. I imagine the iPhone 5 will follow the same pricing as always.
When the Galaxy S3 came out, my gf got one for £22pm over 24 months with a free handset - total cost £520.
The Galaxy S3 can be had for less than half of what it costs for an iPhone 5. And it has far more features. I think Apple have rested on their laurels and this iPhone 5, which was repeatedly rumoured to blow the world away, has little more than a bigger screen over the equally disappointing 4S.