Just thought I'd post some comparison shots for my GN vs my Canon SD790 (10MP) camera. Just to see how the GN holds up. There are 3 outdoor, bright sunlight and 3 indoor at night with very little lighting, with flash. Both devices were all set to "auto" everything 'cause that's the kind of photographer I am. [edit: Also, both were shot with no zoom]
Personally, I think the GN holds its own, keeping in mind we are comparing a 5MP phone to a 10MP camera. In the outdoor shots, the GN definitely holds up well. In the indoor shots, I think the fact that the Canon has a "real flash" makes all the difference. Nevertheless, for a camera-phone, the GN flash is pretty decent.
GNex vs Canon SD790 - Imgur
Oh, and just one nice sunset from last week's vacation...