[jstanley]

No it doesn't. The screen has the same orientation as the camera. When you hold the phone upside down, you are also holding the screen upside down ;)

[smackfu]

Right, but when you look through your photos laters, it has to transform them so up is up on the display.

[pilif]

But when browsing through already stored pictures, a bit of delay is totally ok. Not so much when quickly showing some information overlaid over the picture you've just taken.