I have had an iPhone, iPhone 3Gs, and now a Samsung Galaxy SIII, all with integral cameras. I use a cell phone as my camera of choice when I want to share the photo with someone NOW. On top of that, the iPhones were pretty good at capturing a quick snap.
The 8MP SIII, in the right light, used in the right way, could be capable of doing "Serious Work(tm)", as long as you aren't printing too huge.
Untitled by
unixrevolution, on Flickr
The phone has suprising dynamic range and really saturates the colors. Images from the SIII pop. And the phone camera has quite a few controls, including Exposure comp, manual white balance presets, manual or auto ISO, flash, macro mode, even spot, matrix, or center-weight metering.
The S3's ease of use and the fact that the screen isnt cracked like the one on my Optio A40 means that I reach for it now as my usual backup/sidearm/camera that's always on me. Once I buy myself an RX100, we'll see how often I reach for the Samsung.
"The best camera is the one that's with you." --Chase Jarvis