iPhone 4, iPad 2 or iPhone 5 which one should you own

Do you have an iPhone 4 and think it is the best thing since sliced bread, or are you the owner of an iPad 2, which meets all your tablet requirements and more, or are you eagerly awaiting the arrival of the iPhone 5 and just not interested in any other Apple iDevice out there. Here is a quick spec rundown.
iPad 2: 1 GHz dual-core Apple A5 chipset, 9.7-inch LED-backlit display with 1024 x 768 Pixels WXGA, front and rear facing cameras and 720p HD Video Recording, either 16GB, 32GB or 64GB memory storage, 10 hours of battery life and Bluetooth 2.1, Wi-Fi, 3G. Size 241.2 x 185.7 x 8.8 mm and weight 613 grams!
iPhone 5: rumoured specifications include TFTS 3.7-inch screen, A5 processor, a Qualcomm chipset that would sport CDMA, GSM and UMTS baseband support, internal antenna and even 12.6-megapixel camera… and more! I do not really have much to go on so I will have to leave it there.
iPhone 4: 1GHz A4 processor, 512MB of RAM and comes in either 16GB or 32GB of storage, 3.5-inch touchscreen retina display with resolution of 960×640 and has a virtual QWERTY keyboard. Size 115.2mm x 58.6mm x 9.3mm and weighs 137 grams, also has a 5-megapixel camera that can record 720P HD quality video, WiFi b/g/n, Bluetooth 2.1, HSDPA and HSUPA, and 300 hours standby time and 7 hours talk time.

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