I do some freelance software development work for a startup here in Stockholm that makes mobile phone software. The company has access to a wide range of mobiles, and the other week I came across some images and videos shot with SE's new top of the line model Satio. It's got a 12MP sensor which sounds insane for a phone.
Big surprise though. First impression was definitely "wow". While it cannot compare favorably with the quality compacts discussed here, it actually takes some pixel-peeping to tell the difference. Video was equally impressive, I saw a low-light clip from a pop concert.
While I still wouldn't personally get one for use as a camera, I think it's a sign of things to come.
Any bets on when the first raw-capable cameraphone will emerge?