Oh. I guess it's 8MP. The video quality looks amazing too. Hopefully there are some usefull video editing apps for WP8.
High performance apps like video editing should be possible on WP8 as it has native code support and a decent API instead of being hamstrung by the half-baked derived from Silverlight mess that was WP7. In fact the more I think about how good WP8 could be, the clearer it becomes what a massive waste of everyone's time and money WP7 was.