Also:
1. Longer battery life.
2. No Glass back.
3. Higher flash capacity.
4. Usually more RAM resources.
5. Freedom from people trying to rag on you about AT&T, even though AT&T is fine for many users.
The only disappointment for me is the lack of GPS. An iPod could be an excellent backup device for GPS users.
As to cameras I'm not thrilled with cell phone cameras at all. So it will be interesting to see what this sensor does for us. Ideally it would have good low light performance. Some are dismissing the video camera but it might be a smart move on Apples part. It keeps the device thin for one. Plus video is more popular than ever, if the sensors quality is good people will put it to good use.
Dave
You'd be AMAZED at the quality of the camera on an iPhone 4, and what certain photography apps allow you to do with images. I'm kinda blown away by it, actually.