IMO Software upgrades are 10x more important than hardware upgrades. Take whats happening in Android right now especially the tablets, they are all running really good hardware but are STILL either buggy or overall laggy because of the poor/rushed software. A dual core processor in a phone is overkill at this moment until their is software needed for it but people need something to sell people.
That's why I like to stay behind on cellphones technology. The first few months are always dedicated to software updates to fix problems that could have been addressed before the phone was released.
I'm over trying to be the "first" guy with the newest gadget. Just gimme something that works... /mini-rant.