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Prepay cell phone?

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I want to buy a prepay cell phone for making my monthly budget balanced. I have been with AT&T cell phone for last three years and it was very expensive to pay monthly bill. Though, the contract deal is going to expire next month, yet I want to get all the details about the prepay cell phone before going to buy the handset. As I have also collected some details about the handset, but I am really some confused to go with. i need a cell phone with the all latest technologies and features. Because I love to operate the latest handset, so I am going to spend more on handset rather spending on monthly expense. So I live in California and so please suggest me as per the place. Thanks   

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