A fashion shoot done on an iPhone 3GS:

(He’s published some of [the final images](http://fstoppers.com/iphone/).)
And here’s a movie entirely shot and edited on an iPhone 4:
I realise I might have just undermined your business justification for the £700 digital video camera you had your eye on – but it’s about the reporting, not the tools.
*(Yes, I’m back. Hi. Miss me?)*