I noticed that itunes gave me options as to which back up I wanted to use to restore the 5. I did not see a date that co-oresponded with the date I wanted to use (10/26/12 ate 4:07) so I backed out of that. I changed the name of the old 4s with a tag of 4s. (So clever) then I hooked up the 4s to compter, itunes backed up the phone. unhooked 4s, hooked up 5. choose the radio button for restore and chose the 4s back up file. Let you know what happens
Yes I know. I think if you make a second backup in the same day iTunes puts a time stamp besides the name of backup.
I don't think you can edit the names of the backups. You can delete some if you don't want them.
You now know how this thing works and you can backup up restore and sync all of your devices as you like. Also you can use iCloud to backup and sync your devices.
Let me know if you need any help.
Try to restore the iPhone 5 from your latest sync of you old iPhone, this is differant then a backup. Your latest sync will likely have the most recent data. In iTunes select your device on the left, right click, select Restore from Backup, select your most recent sync. You can tell the sync from a backup in this way. A Backup will have a date and time stamp and a Sync will not. Hope that helps.