I'm still on the fence when it comes to the camera on the One.
After a week or so with the phone, I still feel that the photos are too flat and lack any dynamic range. They look okay on the HTC screen but very flat and dull on a computer monitor.
On a different note, I find the One to produce a sharp image with lots of detail and pleasant bokeh. The detail was to be expected given the much larger size of the pixels on the sensor.
Here is a shot comparison, one is straight out of the One and the other is after PP.