This means you can stick the iPhone on one of many, many tripods or stands and snap a blur-free shot. It's a shame that you can't control the shutter speed manually for proper long, low light shots as you can with a real camera, but we'll settle for what we can get — bear in mind that any camera made in the last 10-15 years requires an expensive, proprietary remote to do this, whether by cable or IR.
And remember, this volume-button trick works for shooting video, too.
Snap Pictures With Your iPhone's Headset Using iOS 5 [Cult of Mac]