True, another factor is that we can now offload more stuff to "the cloud" which is especially useful on handhelds.
As we get better connectivity everywhere it might be that we actually see a regression in performance (or at least staying static) on many mobile devices in exchange for better battery life.
I'm pessimistic for the future of the cloud on mobile devices, because we'll reach a bandwith limit. As the frequencies fill up the pipes are going to get more sluggish over time, unlike the trends we see in other tech sectors.
As we get better connectivity everywhere it might be that we actually see a regression in performance (or at least staying static) on many mobile devices in exchange for better battery life.