5MP downsample, resolution falls well short of what a 38MP camera should (theoretically) be capable of, runs windows phone 8 (fewer apps), phone has awkward shape not shown in commercials, low screen resolution, and as the following review puts it:
"You might think that despite all of these negatives, at least the Lumia 1020 blows all other phones out of the water when it comes to the camera. You’d be wrong. There’s a noticeable lag when between taking a picture, saving it, and being able to take another picture. The Lumia 1020 comes with three different camera apps, each with their own function, so good luck figuring out what does what. Annoyingly, every photo you take has an on-screen caption that reminds you which app took the photo, but at least it doesn't show up in the picture itself"
http://www.everyjoe.com/2013/07/13/technology/nokia-lumia-10...
"You might think that despite all of these negatives, at least the Lumia 1020 blows all other phones out of the water when it comes to the camera. You’d be wrong. There’s a noticeable lag when between taking a picture, saving it, and being able to take another picture. The Lumia 1020 comes with three different camera apps, each with their own function, so good luck figuring out what does what. Annoyingly, every photo you take has an on-screen caption that reminds you which app took the photo, but at least it doesn't show up in the picture itself"