Actually, I prefer to have it with LED flash instead of a xenon flash.
The LED flash can be used in the HD recording while Xenon flash can't. It's true that many Xenon flash phones tag an LED flash along. But if I'm not mistaken, the LED flash is used in the auto-focus, gainning an accurate focus on the subject. IMO, this LED flash will be too weak to be used in video recording.

Of course it would be best if the phone comes along with a xenon flash and also a powerful LED flash.