All valid points, Reason why i was second guessing myself is my parents just came back from a vacation. I was asked to order some prints for them. Upon doing so they looked grainy while editing them through my mac. This has me thinking is a point and shoot that much better then a cell phone camera. Grant it they have an $80 4 year old panny and maybe to our phones and technology today its sub par.
If you have room for it in your luggage, I'd also bring the DSLR, packed securely away. Because you'll want a few magnificent sunrise/sunset/ocean shots, amirite? Just keep it in the safe, and pull it out when you want to go photo-geek. For everything else, bring the cheap, semi-disposable point and shoot.
Look, I'll be frank - most of my photos any more are taken with my cell. It's always with me. I have a very nice point-and-shoot (waterproof) and a DSLR (Canon T3i) . But the cell is the camera I have all the time.
I just got the Moto X and I can't judge it yet, but my LG Optimus G Pro took really good shots - as long as there was good light and a reasonably still subject it took EXCELLENT shots. Not DSLR, but good point-and-shoot quality.
If I went on a cruise, would I carry MY cell around as a camera? No way. But not primarily for reasons of photo quality.