When Steve Jobs introduced the new iPhone 4 at the recent WWDC10 Conference, he described the latest iPhone incarnation as being "… the most precise thing we've ever made. There is glass on front and the backside and it has stainless steel around it. Its closest kin is a beautiful old Leica camera." That’s a pretty heady statement from an equally heady mover and shaker. But iconic referencing aside, how true is this statement?