We are really at the threshold of a new era of mobile communications as today's cell phones are monsters in terms of capability... Processor speeds are getting faster and memory is getting cheaper.
If you want an example of where things are headed consider the LG Viewty Touchscreen Cell Phone which allows you to record video at 640x480 at 120 FPS. Best of all the device records in DivX format meaning you can watch your movies on a range of devices without converting them.
This is truly incredible.
See also:
Korea Gets Awaited Viewty from LG
LG to Expand Promotion of Viewty Phone
Zoran's 'Approach 5C' Powers LG's New Viewty 5 Megapixel Camera Phone
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I am begging to like pictures on the small screen