. . . unless you need to replace a broken phone. Yes, there are lots of great phones available at reasonable prices, but waiting just a few weeks will pay off in a new generation of phones at the price of today's top phones or if you are bargain hunting, expect a healthy reduction in prices for the current phones.
New phones from Samsung, Sony, HTC, and others will be arriving soon, maybe mid to late March. Common features for many of this new generation of phones include quad-core or better processors (speed galore), 1080p screens with dpi that will outclass iPhones retina display, and 13 megapixel cameras. Spec hounds can't wait for these smartphones and they won't be disappointed.
However, many users wanting upgrades to their current phones will find bargains as phones such as the Samsung S3 and HTC One X+, both superb smartphones, will see significant price drops to the $99.95 range or less and I wouldn't be surprised to see the HTC One X hit the magic $ .99 number in a while supplies last situation.
If your contract is up or soon will be, a wait until these new releases appear will make choosing a new phone difficult and ultimately very satisfying.