It turns out the built-in Panorama capture feature won’t be exclusive to the iPhone 5. The iPhone 4S will have a taste of that 28MP goodness, too, once the iOS 6 update arrives on Sept 19.
The iPhone 4, however, won’t have such luck. Not that this is such a a big loss – every iPhone 4 owner, who’s interested in snapping panoramas, most probably already has a nice Panorama shooting app from the AppStore. My favorite is 360 Panorama. Yours?