As the saying goes, the best camera is the one you have with you.
The reality, however, is, that your best camera is actually the one you left at home.
>> 41-megapixel is quite a wow factor
This camera is a little more than just the megapixel count. It appears that they use something similar to pixel binning to use those 41 MPs to make better 5MP images.
The high MP counts allows you do downsample/pixel bin for higher quality images and also allows room to crop, providing a digital zoom which doesn't suck.
If you are a big DxOMark fan, you'll find the RX100mk2 scores a 67, while the RX100 scores a 66, which is the same score as a Canon 7D's sensor.
And while you may argue that the 7D's sensor is old, Canon's been pumping variations of the 7D sensor into all of their recent APS cameras short of the freshly announced 70D.
To your point, I agree. I've seen comparable (and sometimes higher) IQ from my RX100 than I do from various MFT and APS-C DSLR/MILC cams with their kit lenses including the Canon T3i and T4i, GX1, a few NEXes, and Nikon D3000-D3200. The RX100 fares well against those cameras at the wide end of the zoom range when it comes to low light performance and thin DOF as well. Of course, you could spend more and get better lenses for those cameras and beat the RX100 in low light.
I do hope that the new sensor in the 70D provides an actual improvement in ISO score if not IQ and isn't just the older sensor with OSPDAF added.
I was just adding to the point about 1" sensors actually being as good as an SLR sensor, which they are.
Of course the RX100's optics limit some of its performance, but Sony's 1" sensor and the M43 sensor they sell to Olympus punch well above their weight, equalling or besting some existing APS sensors on the market today.
The resulting image is "demosaiced" with an algorithm, where by each pixel determines the two colors it's missing by borrowing from nearby pixels.
This can cause some artifacts. By squeezing more pixels into the same space, effectively each resulting pixels in the ~8MP image has actual RGB data, not just data borrowed from neighbors.
http://www.43rumors.com/detailed-panasonic-colour-splitter-s...
But I imagine that's a long way off from appearing in smartphones...
The Nokia sensor has around 5.5x the surface area of the iPhone 5 but only 5.125x the resolution.
So basically the Nokia's advantage is having both a high quantity of pixels and having larger pixels.
I truly love the quality from my DSLR but it's hulking compared to my MILC (a Sony NEX). For most things the NEX is good enough. If the quality can come close to that of MILCs, then I might just carry this kind of phone for most uses and take the DSLR only for staged shots and the like (non-P&S situations) and forget the MILCs and P&Ses.