Is the iPhone 4s still capable to run smoothly?

I'm looking to get an iphone that isn't that expensive compared to the newer models. I was thinking the iPhone 4s as I can buy a rarely good conditioned one for about £150. Is it worth it? Is it still capable of running with not much lag? Or should I save up or a newer model?

Lag has been reduced with iOS 7.1.2. And it will get the new iOS 8 in Oct/Nov. Best luck.

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