Replacement iPhone created 'new' backup; can see but not access my 'real' backup

In anticipation of a new iPhone 4S I made a backup in iTunes this morning - call it the 8:41AM backup.

Sure enough this evening I got a new iPhone and plugged it into my computer and tried to do a restore.

iTunes said I needed a more recent iOS version, so I clicked "OK."

You veterans know the next thing it did was backup my new, useless iPhone - with the same phone name as my old phone of course. So the backup I had was 5:31PM - plain out of the box (i.e., useless) backup of my phone). I thought I lost this morning's backup. Nearing a heart attack I came and found out how to see the backup I really need.

I just can't get to it.

Under Edit/Preferences/Devices, I can see the 8:41AM backup listed, with the phone name (that's the same for my old phone and the new one).

I deleted the 5:31PM (useless) backup, hoping it would "promote" the backup from this morning, but that's not how it works.

Now when I click on "Restore Backup . . ." all I'm presented with are really old backups (January, when I first replaced my iPhone) with the same phone name.

So - how can I access this morning's backup and get it on my new phone?

Thanks for any and all help!