The wait is finally over, and the next iPhone has finally been revealed; however, it was met with a mixed reception. Everyone was expecting Apple to introduce a truly revolutionary iPhone 5, and many people’s hopes were smashed when Tim Cook announced the iPhone 4S instead.

With Apple sitting so far behind schedule (everyone was expecting the next iPhone to be announced before the end of July), assumptions were that Apple would have a completely redesigned iPhone 5 in the coming weeks. Among the anticipated improvements were a larger, 4-inch display; a lighter, thinner chassis; and 4G connectivity. The 4S has none of this.

The iPhone 4S is no slouch, though, and compared to the iPhone 4, it’s a significant step up. The first of its major upgrades is the A5 processor, similar to the processor found in the iPad 2. As a dual-core processor, it helps improve multitasking performance, and its graphics processor is a full 7 times faster than the A4 found in the iPhone 4. Still, the A5 isn’t exactly revolutionary, as there are already several other smartphones that perform just as well, like the nearly 5-month old Galaxy S II.

Other improvements include a new 8MP camera, capable of recording video in 1080p. It has also received a slight bump in maximum 3G speeds from 7.2Mbps to 14.4Mbps, and after the reception issues that plagued the iPhone 4, you can rest assured that the 4S has a completely reengineered antenna design. But again, expectations were much higher, and 3G speeds fail to impress when 4G phones have been around for nearly a year now, like Verizon’s 4G LTE Thunderbolt.

The biggest improvement by far is actually in the iOS operating system. iOS 5 brings 200 new features, including the new “Notification Center” which is similar to Android’s Notification Bar. There is also Twitter integration, basic photo editing, and even a messaging app for texting fellow iPhone users for free.

All of that pales in comparison to the iPhone 4S’s most innovative – according to some, the only innovative – feature: Siri voice control. Though it’s still in beta form, the new Siri platform takes voice commands to a new level. Siri is by far and away the most advanced voice recognition system in the mobile sector. This is one point that even the best Android phones can’t currently match.

A Rose by Any Other Name

Many people are underwhelmed by the iPhone 4S, and it seems Apple may have anticipated this. It’s unclear why Apple was so delayed in bringing the new iPhone to market, but considering the naming scheme in iOS 5, it would appear that Apple’s original intentions were to name it the iPhone 5. It wouldn’t look good for Apple to release a new flagship device that wasn’t ahead of its time, something everyone was expecting of the iPhone 5.

However, this possibly last minute name change could have done more harm than good. In a survey shortly following the iPhone 4S’s announcement, it was revealed that more people want to wait for the release of the iPhone 5 than buy the 4S. Even more interesting is the fact that the majority of those people polled are actually waiting for Google’s upcoming Nexus Prime.

How do you feel about the iPhone 4S? Let us know in the comments.