less like "thrown out the window" and more like "nudged slightly"
The iPhone 5 lengthens the screen by 176 pixels in 1 direction, leaving an old style layout with 88 pixels of banding (a bit over 6mm) on each edge.
For Apple to run with a sreen resolution similar to the Nexus, say 1200 x 900, we'd have banding of 88 and 66 pixels along each long and short side respectively, so it wouldn't be too bad.
The iPhone 5 lengthens the screen by 176 pixels in 1 direction, leaving an old style layout with 88 pixels of banding (a bit over 6mm) on each edge.
For Apple to run with a sreen resolution similar to the Nexus, say 1200 x 900, we'd have banding of 88 and 66 pixels along each long and short side respectively, so it wouldn't be too bad.