New Iphone. Worth it for camera alone?

Just read this about the new Iphone:

"A whole new camera system. It's gone from three to five megapixels, with an added backside illuminated sensor for higher quality low-light photos. Apple's also added an LED flash. Now for video: the camera records HD video, full 720P at 30 fps. They've also written iMovie for the iPhone, $4.99 from the App Store (if it gets approved)."

At the $199 price point, maybe it's worth getting this for the camera alone? How much would you have to spend to get a backside illuminated sensor with HD video in a camera?