I went hiking last week with my camera and my iPhone 5 and decided to do a little comparison between the two cameras. It was an impromptu equipment test, otherwise I would have added a Canon Powershot to the mix. I used the iPhone camera at its default point-and-shoot settings, but played with the Panasonic exposure settings a bit. I'm not an expert photographer, but I am impressed with the results from the iPhone even though there is less control over the picture settings than with the Panasonic.
Rattlesnake Lake
iPhone:
Panasonic:
Moss covered tree in the woods
iPhone:
Panasonic:
Snoqualamie Falls
iPhone:
Panasonic: