Also note that the high-speed video modes may be suffering from pixel binning. That is, the 720p120 mode may, in reality, only capture at half the resolution in both directions; that is, 640*360.
At least that's the case with the iPhone 5 running on iOS7 (see
https://forums.macrumors.com/threads/1602171/ for some precise resolution measurements.)
All in all, the photo-related improvements are indeed minimal, even if you take the, compared to the iPhone 5, double-Megapixel panorama mode, the somewhat (not much - the difference is WAY smaller than, say, between 1/3" and 1/2.3" or 1/2.3" and 1/1.7") larger sensor and brighter lens into account:
- still no double capturing (which would HIGHLY be useful when you'd like to include the image of the person taking the shot in the final video / pic too), unlike in LG G2
- no OIS (see LG G2 and Lumia 1020 - or, if you're looking for something cheaper, the Lumia 92x or the HTC One)
- no stereo audio recording (at least they didn't mention this) - come on Apple, it's late 2013 and every single other flagship smartphome records audio in stereo while shooting video!
- still not any kind of manual modes, not even via third-party apps (via API calls) - come on Apple! Stock Android / WinPhone have been having some of these (WB / proper exposure compensation / ISO setting) since their inception
- still a not very wide lens (most other flagship smartphones have 28mm lens; the 5S still seems to have 33mm)
- no 1080p60 video recording (the LG G2 does support it); neither 4K recording (the Note 3 and another phone I can't recall the name of do support)
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I REALLY hope it's not pixel binned (see my above intro)...