The C905 most certainly does have a keylock, it just isn't turned on by default (it's in the settings, oddly enough).
This phone is broadly pretty good - I've had it over a month now. However Vodafone has made a dogs-breakfast of their version of the firmware, with a number of shocking issues (the Youtube app can't get beyond buffering, the Geotagging is f**ked, amongst other things), and also mine has taken to an annoying habit of resetting itself a lot when the slider is shut (suggesting it isn't catching properly and key-locking, instead locking itself up).
So other than these issues, a great phone. And yes, the camera is very, very good indeed - for a phone. I use a Canon 40D as my main camera nowadays, meaning that it isn't always appropriate - and my C905 proved to be more than up to the task taking the odd shot at a gig recently.