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I'm a semi-professional photographer (sell photos, but have a day job), and I use my iPhone 4 as my primary camera. I had a 3G previously that I rarely used, but the 4's camera has upped its game enough that I've ditched my point-and-shoot. There's no reason for it, since my iPhone is always with me... and that's key. I think the tired old adage that the best camera is the one that's with you applies here.

Sure, there's no optical zoom, which hurts, but it does force you to get creative with composition. I end up with lots of tilts and unusual angles that I wouldn't have selected if I could have wiped some undesired object away with a quick zoom.

It's not replacing anyone's SLR, but I think it's a viable alternative to keeping a P&S with you at all times.
 
I do. It is nice. I love the geotagging

With that said, I wish there was a way to view a timestamp for the photos built in aka when I took it as well as the ability to create albums on the fly without the need for itunes/iphoto
 
It's my main camera since it's ALWAYS with me. However, if I knew I'd be going somewhere to take pictures, I'd bring my G10 or 40D.
 
Outdoors = hell yes ( iphone takes great outdoor pictures)
Indoors/nightime/poor lighting = hell no

This sums it up.

I was at an event this past weekend, and I tried a number of times to go with just the iPhone 4 camera. It did a decent to good job, for the most part, but the limitations in indoor and low light situations meant that over and over, I was frustrated by the results. Out came the Canon g10, which gave me a lot more versatility in handling difficult lighting.

I love my iPhone 4 camera, and as others have said, it's an excellent one. I'm forever amazed at the images I get from a camera phone, for pity's sake! But when it comes down to it, a GOOD point and shoot--in the hands of someone who knows how to use it fully--has a better likelihood of consistently getting high quality images in tough lighting conditions.
 
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My iPhone 4 already replaced my camera. The picture quality is so good, I don't see the need to carry my 4MP point and shoot camera around too.
 
My iPhone 4 camera is now my main camera for everything except low light, external flash, zoom lens, and/or tripod work.

Too bad there's no external flash sync capability.
 
I have a P&S camera, but I never carried it around because of its inconvenience. Now that I have my iPhone 4, i don't plan on using my PS unless I want better photos. iPhone 4 is good enough for casual photos in my opinion.
 
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