The camera on the RAZR is as good as anything else out there (barring those oh-so-delectable Carl Zeiss lenses on Nokia phones), but it can tend to take sub-par shots depending on what conditions are like and the skill of the photographer. A skilled photographer makes all the difference in the world; my brother is a pro photographer, and he can take shots from a disposable camera that'll put most people's 5D MkII shots to shame.
That said, there are a few things you can do to make the most of your photos with your RAZR. These two apps are very good to own (not too expensive, and if you like photos on your phone they'll be well worth the couple of bucks you shell out):
HDR Camera+
This app allows you to take true HDR images. HDR stands for "High Dynamic Range;" basically, it'll take 3 shots at different exposure settings and put them all together. It makes for cleaner highs and lows with a very distinct, life-like colour. Here's a picture taken in a lot by my house with the regular camera:
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Here's the same area, but taken with HDR Camera+:
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You can see that you get a much better range for the photo; both in colour and contrast. Here's another shot taken with the RAZR and HDR Camera+:
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Another app worth picking up is this one:
PicSay Pro
There are others like this out there, too. This app allows for some simple, easy editing on the fly. I use it to do things like play with contrast and colours. I find that the RAZR tends to make colours a bit too cool. For instance, I took this shot a few weeks ago:
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It's an OK shot, but the colours are a little on the cool side and the exposure/contrast doesn't really pop. Here it is with a little bump in those areas:
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Not a huge difference, but noticeable. And very easy and fast to do.
The RAZR takes great shots in good lighting, but it, like all phone cameras (other than those brilliant ones from Nokia), can use a little help. With a few little tweaks, though, the shots really are quite livable.