Device to fail-over to tethered phone

Yes, sounds OK. Also check this for the dynamic change: http://forum.mikrotik.com/t/advanced-routing-failover-without-scripting/136599/1

A lot of specific 5GHz devices to look at … SXTsq 5 ac and many others.

There are a lot of “5GHz +LTE” devices , but with much lower antenna gain.