Have smartphone cameras reached point-and-shoot quality?

The debate about the quality of smartphone cameras and whether or not they have reached point-and-shoot level has been current for at least a few years now, and while we're generally not the ones to say that they have, our opinion has recently started to change.
But what do we mean by "most occasions," because that may turn out to be an important point when it comes to photography. Well, as long as you aren't using your smartphone to take indoor/night images, you should be OK. Sadly, one of the few areas where smartphones are still lacking is low-light photography. You simply can't capture enough light with these miniature sensors. You need something bigger, something like... the 808 PureView sensor, but of course, no one wants a phone that is as thick as the 808. Nokia is trying to make things happen with products such as the Lumia 920, which features a smaller version of the PureView camera, in order to keep the thickness of the device in check, but the Lumia 920 is still quite bulky. But it's a big step forward, and we hope that Nokia will continue to make progress with this technology and eventually make it possible to put it in thinner handsets. It's something that other manufacturers should gladly pay royalties for, and the same goes for the floating sensor tech, also found in the Lumia 920. Have you seen the videos this device records? Nothing like the jerkiness that's observed with other handsets.
Getting back to where we started, we can now safely say that the top smartphones available today, like the Apple iPhone 5, Samsung Galaxy S III and Nokia Lumia 920, can capture comparable, or in some cases even better pictures than standard point-and-shoots, as long as you don't try to do low-light photography, due to the smaller sensors that are used. Really, we were surprised by the results from our special camera comparison featuring the Samsung Galaxy Camera. If you've missed it (how could you!), don't hesitate to check it out right here.
Are you guys satisfied by your smartphone cameras? How do you find their performance, compared to a traditional point-and-shoot? Judging by our regular 'Cool images, taken with your cell phone' column, some of you are doing some pretty incredible stuff with their phones, but feel free to share your experiences here!
If you want proof that smartphone cameras have become as good as point-and-shoot camera, just take a look at our latest camera comparison!
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