According to PCMag (I apologize for the awful floating ads in advance), Samsung will be issuing a software update to the Galaxy S III that will incorporate many of the new Galaxy S4's features.
Nick DiCarlo, a Samsung VP, said "Anything that we can do that's not dependent on hardware like infrared, we'll definitely bring to all the flagship devices."
So, I take that to mean the Galaxy S III, Note II, and possibly a couple other devices that might support some of the features in the S4 - perhaps the Note 8.0 and Note 10.1. Considering Samsung has massively overhauled the camera app and added a handful of new S-features, a new Premium Upgrade Suite with Android 4.2 is likely to bring some of those S4 goodies to older hardware.
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