This review was done on October 14, 2011 for the iPhone 4S.  The image quality is quite impressive for having been captured from a phone.  From now on, you can expect most major smart phones to give point & shoot cameras a run for their money.

Description from YouTube:

iPhone 4S test in 720p resolution.  1080p full-HD version will follow as soon as I figure out why youtube downconverts it.