Apple just announced vast improvements to its front and backside cameras. The backside camera will rock 8 megapixels and will be illuminated with a hybrid IR filter, five element lens, and f/2.4 aperture. As for the front facing camera, Apple ramped things up by making Facetime an HD experience that records in 720p. Other noteworthy tidbits include pings the new iPhone 5 camera as 25 percent smaller than the iPhone 4S shooter, yet it can shoot pictures 40 percent faster. You can also expect the panorama mode and 1080p video capture.