Here's my two cents worth....you all are right. So let's look at it simply like this...
If you simply want to capture moments on the fly, take photos to put on your PC as wallpapers, to share with family and friends, maybe print some 4x6's....then both a 5MP and 8MP camera on a phone should suffice for all users.
If you want more quality pics for the same reason above, and maybe larger print sizes...then do yourself justice and use a point-and-shoot camera.
If you want professional quality prints for various print sizes and posters, etc....then buy a DSLR or hire a professional photographer.
Don't expect your phone to be able to match the quality of either a DSLR or even a point-and-shoot camera.