Like you, I have no idea how one could use a 4.7" screen easily. Are most people suddenly 7' tall now with 10" hands?! It makes no sense. I don't want a phablet! Yeah, the 920 is just too huge...the Ativ? Please, bricks are meant for building, not to be carried around.
I may skip the 1st Gen of WP8 devices entirely. Hopefully the 2nd Gen will bring something I want. Sorry to hear you may have to go with the iPhone 5, but, you have to go with a phone that fits.