We all know it won't be as good as a real camcorder, however I really doubt Apple would have allowed it on to their phone if it didn't at least look "very good." Didn't they not enable video on the 3G because it was not up to their par? Apple is a company that puts a lot of emphasis on aesthetics so I would assume their new phone shoots some pretty decent video. We gotta remember it's a phone, not a real camcorder.