Even my iPhone 5 feels as laggy as the original 2G iPhone did, now that I've updated to iOS 7. I wish I could hit the undo button on that 'upgrade.'
My iPad however, has jaggy animations when opening multitasking interface.
The iPhone 5 runs very well on iOS 7. The iPhone 4S runs fine, but not quite as smooth. The iPhone 4 is a bit slow, and I highly recommend anyone with an older iOS device to turn off the animations and other effects. It makes for a smoother experience.