Just came across this utility and isn’t this something we wanted? The iPhone 3.0 OS apparently has an option to let you launch the camera app when you double click the home button.
By default on the iPhone versions, we had seen untill now launched the Favourites when the home button was double clicked. But Apple seems to have now realised that a dedicated camera button on the iPhone might have been missed, and people can now use the home button in many more ways.