I use my Nokia 808 often. It has an LED along the Xenon flash for use as torch and for finding the focus.

The Xenon flash is awesome, no doubt. Its way brighter than an LED and thus the phone takes way better pictures in the dark in distances of 3-4 Meters and below.

But it also has a little downside beside the size: It will take a little to reload. Half of the space it uses in the 808 is a giant capacitor. You can make fast image series in the dark.

Besides that: You rarely want to use it. The flash changes colors slightly and I only really enjoyed its benefits when taking pictures at night at a beach or when I took pictures of an unlighted chapel without windows and old paintings.
If I have the chance, I just take out my tripod and take pictures in natural lighting.

So: Its awesome in the rare situations you need it, but I don't miss it most of the time. If this would be a camera phone a Xenon flash would be a feature to be demanded. So its just too much hassle for the result.

Much more important are: a big enough aperture and the possibility for long exposure times.