edit: during my lengthy essay, I see I've been somewhat ninja'd!
Man people are so misinformed - and this is nothing against you Kay - I'm seeing this all over the place...
Truth: The screen is not an upgrade - and not "HD" like the Rezound or Gnex. But it's the smallest screen to come out in awhile, so QHD should still look
extremely nice. I don't know if the human eye could tell the difference between HD and qHD on a 4" screen honestly.
Truth: The phone is small - at least relative to other LTE devices. My personal opinion is... FINALLY. But others' opinions will differ.
Truth: On paper, it doesn't read any better... similar RAM, similar clock speeds, similar camera, etc. This is where people are missing one big difference... the S4 chip.
The S4 chip will run significantly better than any Tegra, OMAP, or S3 chip out there right now. First off, it's a newer, more efficient, more optimized chip in general - so 1.2 ghz on it will simply run better than similar specs on a previous chip, if not better than even "better" specs on previous chips. The camera and camera software will run better on the S4 chip, even though it's the same MP's as most phones out there now - and HTC phones already take excellent pictures, arguably the best on the market. The system itself was built with the S4 chip in mind, so ICS should run awesome on the phone.
But here's one of the biggest "perks" of the S4 - LTE. The S4 is the first chipset that will handle LTE and 3G in a relatively efficient manner - as opposed to all previous devices to date where Verizon had no choice but to use the clunky methods they were to handle 3G/4G. This should translate to better battery life (especially with the biggest battery in an HTC device to date) and a more efficient (and stronger) data connection (especially in fringe areas where lots of 3G/4G handoffs occur).
The Incredible line has never been about having the most souped up, tricked out phone, but about having a solid, sleek, efficient, and reliable device. The Inc2 is still one of my favorite 3G phones of all time. If this one follows in its footsteps, then more power to it. The Inc 4G will be the first Verizon phone with the S4 chipset, and while I understand them not marketing that to the average consumer, it's going to be a significant bump in the LTE experience overall, and bring it more in line with the reliability and stability of the 3G phones still left out there.