I am in the process of switching phones. I've had my iPhone 4 for several years and one of the things I've liked most about having a smartphone is not the games or the internet, but the camera. That little camera is a photographer's dream! When I think of how advanced my DSLR is over my SLR, it blows my mind, but when I think about how much the cameras on smartphones can do, it's even more impressive.
Before I got my iPhone I carried around with me a 10 mp Kodak. It was a great camera and I liked it a lot, but the smartphone cameras can do more and are smaller than my point-and-shoot. There was one feature on the Kodak, however, that was great--the Panoramic feature. Unfortunately, the iPhone 4 does not have a panoramic setting. You have to download apps and the apps are, in a word, lacking.
Here's an example of a pano shot with the iPhone 4 + app...
And a pano shot from the iPhone 4s from the same vantage point.
It's not even close.
I had fun taking pano pictures with the iPhone 4s while at my summer gig (the first pano picture I took was at work--it's my cubicle...). I got pictures of beautiful elk, nice scenery, my show's stage manager, and our dressing room. What a great way to expand my perspective!