gdgt

The camera features of this device are exactly the same as those found on a cheaper camera from Samsung, and as one reviewer says (I think it was either on Engadget or The Verge), the company has basically mashed up a $200 point-and-shoot camera with a $300 Android device, to produce a $500 product.
If what you're looking for is an Android-equivalent to the iPod touch, then this may be it. The device is extremely powerful, has a fantastic display (though the lack of a light sensor means no auto-brightness available), it obviously has a great camera, and it's running the (close to) latest version of Android, with Samsung's not-so-awful TouchWiz UI. The big problem, of course, is its size - it's a big and chunky device, especially when compared to Apple's extremely thin and light iPod touch (5th generation).
If what you're after is a point-and-shoot that brings great image quality, but you don't necessarily need it to run Android, look for a better option. If you want to have a big zoom-lens on a point-and-shoot, look no further than the Canon PowerShot SX50 HS and its whopping 50x optical-zoom lens. If you want some more flexibility, stepping up to a mirrorless ILC is a good idea, with great options like Sony's NEX-5R, or the lower-end NEX-F3.