I chose the white 16GB iPhone 5...what did you choose
I always liked the wow factor of the white and I'm sure the iPhone 5 won't disappoint.
I've always gotten the 32gb model and always had way too much memory.
I'm using dropbox a lot more and will be using more iCloud as well.
Also, my iTunes library is relatively small and most likely I won't be loading my phone with lots of videos and movies but streaming them.
So I think the 16GB is the sweet spot for me. Plus, you probably will get more resale value when the iPhone 5S comes around ;)