I was in a Verizon store yesterday as well, and looked the the Galaxy Camera. The thing was blazing hot to the touch, and the screen was blank, even though it was clearly on, lens extended, and would take pictures when the shutter button was depressed. Ergonomically it's not bad, but yeah, it's definitely a far cry from an idea convergence of phone and camera.
I don't think the Sony QX line is really the answer, either. At that point, having to deal with a wireless connection, separate battery, and large clunky item to lug around in addition to my phone, I'd just as soon keep using an advanced compact linked to my smartphone via Eye-Fi, as I've done for quite a while.
I think Nokia is the closest to the real answer, but who really wants a Windows Phone at this point? If the 1020 ran Android, I'd have been quite tempted to check it out. Big sensor, image stabilization, fast prime lens, and even RAW (on the upcoming successor model), along with a camera-grip accessory.
When will we see a similar camera or better on an OS people actually care about (iOS or Android)? Who knows. Hopefully sooner rather than later.