Macworld
The iPhone’s video camera has gotten so good that it’s often used instead of a more expensive professional camera. Add the fact that an iPhone is much smaller–you can’t put most professional video cameras in a pocket–and the iPhone has become an attractive videographer’s tool.
Traditional video cameras do have an advantage in that they offer more capabilities for fine-tuning. But the iPhone is trying to compete at that level, too, with Apple’s release of Final Cut Camera for iPhone.