iLounge has just posted a new gallery of images comparing the camera capabilities of the iPhone 4 to that of the new fourth-generation iPod touch. Notably, the iPhone 4’s camera is a five-megapixel shooter while the fourth-gen touch’s camera is designed primarily for capturing 720p HD video, cutting off the sides of the 1280×720 sensor when shooting stills, resulting in 960×720 stills and a greatly reduced effective width. In addition, a pair of videos have been added to our Vimeo account comparing the video capabilities of the iPhone 4 to those of the iPod touch 4G.