Is it a video camera or a photocamera? Well, it is both. It does amazing job with both. It takes 5.25M pixels and can take dvd quality video with MPEG4 compression. The quality is amazing. I like both the photographs and videos equally well. First time that I saw a camera that can do equally good job with both photos and videos. This is a step towards removing the distinction between photos and videos. Fundamentally a video captures a microcosm visually over a period of time while a photo captures the microcosm over a moment. In that sense, photos are the limiting case of a video.
This camera is the smallest camera that I saw size of a credit card and about half in thickness maybe less than my wallet. That means that I can carry this camera very easily in my pocket. I have 256M memory card with it, but I can get one of 1G today and possibly several G in the next year. One can easily put several thousand pictures or more than I hour of video in 1G. Today this camera is not connected to internet. But given its technology and what you are hearing from Samsung in phones, it is a matter of months when such quality will be available with your phones. Now consider that soon there will be 3G or always connected infrastructure in which you may be paying flat monthly rates for any amount of connectivity and data transfer. When you combine these with even conservative progress in audio and video processing technology and infrastructure related to this, it becomes clear that finally the time has come when more information will be produced and consumed in non-textual visual and audio form than in text form.
…it is clear that for the first time in the history of civilization we will be able to take audio-visual notes, capture our environments in its natural form, edit it, store it, upload it to a central location, access similar content created by others, distribute our content to specific people or post it at locations for access by anybody who cares about it.