There has been a significant difference with previous notes.
.. Mmm. I still have the note 3.
Comparisons between the S4 and note 3 released same year.
S3: 2600mah vs note 3 :3200mah
S4:Snapdragon 600 processor and 2GB of RAM.
The Galaxy Note 3’s quad-core Snapdragon 800 processor and 3GB of RAM helped it blow away both the Galaxy S4 and smartphone category averages across multiple tests that year.
Personally I think if the leaks are true the N7 edge is a letdown.
I think you've hit the nail on the head there.
As another Note 3 owners, I've not felt the need to upgrade until now. Yet when I purchased the Note 3, like you said, it blew everything else out of the water for me, and so it was worth the cost.
With the Note 7, you now have the likes of the Chinese phone thread, the 6P, Oneplus 3, the Axon 7 etc all pushing features, power and battery life while all being a LOT cheaper than the likely price of the Note 7.
Note 7 at £700 but having out of the ball park future proofing power (as much as you can in the phone world) might have seen be buy it SIM free, but with new phones coming out left, right and centre that might beat it within a couple of months, I'm out of the Samsung game after about four models in a row.
Now my thoughts are more towards spending around the £350 mark on a phone that will stay with me for 12-18 months, but with £350 spare should something amazing come out in that time.