Alright, received a photon 4G yesterday which is for a friend.
Things I would Like to point out as have been discussed in this thread:
1. The screen is only as good as Atrix 4G.
Black Levels: Almost same, and photon appears slightly darker due to linted glass. The new 10% brightness mod on atrix offsets and improves that as well.
Colour reproduction: Can not find any difference.
Colour Banding: Both Phones on Gingerbread, Similar level of colour banding.
2. Build: Photon is more curvacious and Bling to hold and carry. Suitable for "We are the Blackberry Boys" as well!!
Have to hand over the phone today and did not get much time to test out other things.. would do so when i get it back.