Galaxy S IV with S-Pen and a 5-inch screen?

It sounds to me like Samsung's just releasing a faster, higher-DPI, Galaxy Note I. I know the Note II has been huge hits with many verge readers here, but with the way Samsung's influencing the industry to release bigger and bigger phones, do we really need a Note I with a faster processor branded as the S IV? Of course, this is just based on rumours, but still...with Huawei's 6.1 inch phone being released soon,

I'm worried we're going past the future of mobile that we were scared to venture into: 6.5-7 inch phones. What does anyone else think about this rumour? I know there have been countless threads raising this concern...but with the rumour of another flagship being released at 5 inches, I feel the need to recall on our concerns yet again. Anyone else?

EDIT: Posting the link to Phandroid (one of the sources I read this rumour from) for anyone who might want links: