I am unsure about the idea of a "survival camera," and that's why I started this thread. It does seem the the applications in wilderness are few and marginal. I wonder whether there might not be more uses for a camera/camcorder in an urban survival setting (e.g., after a flood or earthquake), but all the uses I can think of involve being able to share the pictures over internet (e.g., this is where we are, and there is no exact street address because everything got washed away/knocked down; Avoid this intersection! I've got a nasty cut that looks like this, how can I patch it up? Should I worry about this gas tank with a weird symbol on it?). Of course, the internet will probably be down in your location during a disaster.
As for cell phone vs. a real camera, I do think there is a difference between the average cell phone and the better P&S. But since you're not creating art, it probably wouldn't matter at all except in low-light situations. The P&S wouldn't be good in that as well, but the cell phone would be worse.
To Hikermor: don't laugh -- there *are* tactical cameras if you just google.