Here's my issue with the idea of a 8MP camera in an iPhone. Everyone is going to think that means it's just as good as an 8MP P&S. This is not really true, a dedicated device will always produce a better quality picture. For example a P&S camera generally will have Optical zoom (much better than digital zoom available on the iPhone and other phones), aperture control, fStop control (depending on the camera), iso control, the list goes on and on. Last I have checked, the iPhone doesn't do much, if any of these, especially out of the box and if an App offers it, it does it all digitally not using the hardware that a P&S camera will have.