The new camera capabilities of the iPhone 4 are much improved from the earlier models. I wanted to separate my new iPhone 4 photos from the rest of my iPhone photo library within iPhoto and here's how you can do the same.
I have had every iPhone model since the original. Apple listed the camera model in the EXIF tags as Apple iPhone until the 3GS where they actually said Apple iPhone 3GS. With the iPhone 4, Apple has gone back to simply listing Apple iPhone. This makes it tricky to make a smart album for only iPhone 4 photos. Since the new iPhone 4 has a flash, we can use that metadata to create our iPhone 4 Smart Album. In iPhoto go to File » New Smart Album... and enter the follow settings in the dialog box.
Mac OS X Hints
http://hints.macworld.com/article.php?story=20100701002242495