While there are a good amount of smart phones that record footage (hopefully the new iphone will have HD but I doubt it) people have always seemed to want better. The handheld digital (still) camera is still around (although i would bet declining) but there are other factors as well. Such as the prices of DSLR's getting cheaper. I think the said can be said of video. Having the feature in cell phones train users to want to shoot video. But the more they shoot, they'll begin to realiz...
The question may be how many pockets do you have? Because at the very least most people have a cell phone and an mp3 player. (See argument before about users wanting more) The third device for many digerati would be a digital camera. Now if you add a video device that's 4 and you start to become weighed down.