If the camera's video app is good, that is, it's quick and easy to go to any part of the video and slow motion through it and delete selected parts, one difference I think is the use of an SD card. They may be easy to lose, but they're so handy for file transfer, you don't need a cable. I don't know whether it has manual shutter control for low light conditions like my Casio does. I also like real buttons as stopping and restarting on a touch screen, the response is nowhere near as good.
That said, I'd prefer to use a smartphone - one less thing to carry, one less battery to charge, don't need to keep track of SD cards. But I think battery usage may be an issue if you record a lot of video or are planning for a long period of use and need your phone afterwards. Most people have an outlet or car charger at their disposal, but not always.
It all depends on your use case.
On the range, you might still want an actual camera, but on the course, imho, this is the perfect use case. If I had a phone that did 120fps, I'd use it much more often when I'm actually playing.
Edited by nevets88 - 9/10/13 at 3:35pm