I just did 15 days in Asia for work, deliberately leaving my P&S at home and using only my phone for photos. While most of the shots came out decently enough there were two things that jumped out at me. The first was that with the phone camera seems to be "forced" into using a higher ISO for night shots than my P&S, resulting in some noticeably grainy photos. The second was prominent chromatic aberration (aka purple fringing) in a photo of a car taken in bright sunlight - something I thought was pretty much a thing of the past. I'll continue to stick with my phone for photos on work trips - work comes first, photos second - but will definitely bring my P&S on vacation trips.