Is the Iphone 7 a big upgrade over recent versions?

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I upgraded to an Iphone 7 from a 4S. For me, it was a big upgrade because it was starting to show its age, and had a hard time running many newer apps. For Iphone 5 or 6 users that have upgraded, was there a big difference? I don't plan to get an Iphone 8, I would probably wait a few more versions before I bothered. Any reason I should think otherwise?