Altek's Leo in the wild: point and shoot, Android phone, or both?

As cameraphone picture quality goes, the story is that it's not really about the sensor resolution, it's about the optics -- and if you want to go by that rule, Altek's beastly Leo should probably have your attention. Just because you've got a huge, telescoping lens doesn't mean it's any good, of course, but we'd argue that it's a good sign in a world dominated by tiny, plastic lenses atop 8 and 12 megapixel sensors of questionable heritage. Indeed, the Android-powered monster has bowed at CommunicAsia 2010 as promised, bringing a 14 megapixel CCD with an honest-to-goodness 3x optical zoom and 720p video capture, WVGA display, 802.11n WiFi, and HSPA for a Q4 '10 release. Amazingly, Altek plans on selling it for $499 -- unlocked, we assume -- and CNET Asia managed to score a few minutes with it this week. Follow the break for video from the event along with Altek's press release.