MP really don't matter.... I dislike that best buy employees and others use this as the selling point. 12MP point and shoot camera! big deal....unless you are blowing pictures up to billboard size, it makes no difference. Most people don't print out anything over an 8x10 at the largest!
I think it is mostly a hardware issue, and therefore we won't be seeing much improvement (except maybe on the fact it is a tad slow) The sensor sucks, and the LED flashes are wayyyy to focused and don't spread out enough which is why you get a giant hot spot on low-light pictures. The pictures are all noisy as hell and very grainy. The camera is not the reason I bought the phone, but I was hoping for something better.