Will cell reception get better after I get an iphone5?

I currently have a very cheap cell phone that I got for free more than 2 years ago which is not capable of 4G. Now, I'm considering upgrading to an iphone 5. Will that improve the reception and chances that I will get less dropped calls and other problems?

Are you serious? A phone with no 4g is bad enough already. Cell towers are more advanced as well as technology. So my answer is yes, your cell reception will increase GREATLY. Now go get one!

No matter what you will get a better signal. You will physically be upgrading your modem. I would suggest looking at the iPhone as well as the Nexus and the Galaxy S3.