I've given up the smaller format arena. I don't wear skinny jeans or anything spandex, so the larger format is quite appreciated by my aging eyes, the S-Pen is now indispensable to me, as are the built in editing features, which I use more and more. The reception of my 5 so blows away my previous S4 by several factors it's not even funny. I find myself doing more than ever before.
S7 has a temporary advantage with expandable memory and water resistance, and a bump in processing speed, for the time being, but for me, they don't trump the pure functionality of the Note series. I'm glad I have annual upgrades, because if the Note 6 lives up to even a fair amount of the expected features, it will be an even bigger hit.
We have three Note 5s in the family, and we love them.