Should I get a refurbished iPhone 4s?

I have been dying for an upgrade so I could join the world of iPhones. I was trying desperately to get the iPhone 4 with 16gb (only 99$!), but it's near impossible to find. Instead I found the iPhone 4S, 16gb for 149$ but it's refurbished. I would be buying it from the AT&T website directly.

I really want to get the phone before I go away to college, but I'm not sure if I should make myself wait until fall when the iPhone 5 is coming out. The 4S will be cheaper then, or I can get the newest model. On the other hand, my old phone may not make it until then.

Buying a refurbished phone is almost the same as buying a new phone- Apple or AT&T take an old phone an completely wipe out the memory, settings, contacts- everything possible thing. It's entirely possible, though, that the outside might be worn (scratches, dents, etc.). Getting a refurbished 4S vs. 5 is up to you, but there's little to no difference between a refurbished phone and a new one- except the price!