It's certainly true that if you don't have your camera with you, you will miss 100% of the shots you see. It's also true that if you can't use your camera quickly, you'll miss some percentage of situation-dependent shots.
I agree that the Smartphones are getting better. I haven't compared them to a same generation point-n-shoot, so, can't comment there.
However, and maybe I'm alone in this, I dislike the feel of the smartphone camera in general. It's been awhile since I had an iphone (a lack of user replaceble batteries), but IIRC, it used the home button to activate the shutter, which was much better than my droids. But even with that, a point-n-shoot feels better in my hand than a smartphone.
But, you have inspired me. My point-n-shoot broke, and I need to buy a new one. Because I have missed shots when I didn't have the D7000 with me. Some of my all time favorite images were birthed from a point-n-shoot.