It might 'only' have 1GB of RAM and lack four cores, but the iPhone 5's A6 processor has just been initiated with its first benchmark, and the results are more than a little imrpessive.
Scoring 1601 on Geekbench (compared to the iPhone 4S' 623), the iPhone 5 managed to surpass even the quad-core might of the Samsung Galaxy S3 (1591), HTC One X (1085) and even the Google Nexus 7 (1591).
It is important to note the results are just one of many benchmarks, and may differ slightly in real world usability.
Nonetheless, it should fuel the ongoing argument over whether 'four cores are better than two,' for a while at least.
Related: Apple's iPhone 5 in pictures.
iPhone 5: Australian buying guide.