Buying iPhone 5 without contract?

I've had the iPhone 4 for two years so my contract is up. I wanted to know if it's better to upgrade to the iPhone 5 without signing another two year contract. Also, I have AT&T and I wanted to know if I could keep my unlimited data. I'm grandfathered in to the unlimited data.

Yea. Just upgrade and you keep your unlimited data

You should be able to keep it but ask AT&T because there's a rumor going around that they are not grandfathering. If you upgrade, then they say it is another contract and you lose your unlimited.So, ask thorough questions and then you may just have to spree on and Iphone 5 for retail so you can keep the unlimited.