The latest release of CyanogenMod 10 (CM10), based on Android 4.1.1 Jelly Bean, has been updated to include a fix for the camera. The FXP145 release from the FreeXperia team brings camera support for the first time and should mean that most can use this ROM for daily use. The camera will now work for all 2011 Xperia devices and for the Xperia acro S, Xperia ion and Xperia S. You can download it here.
There are a few compromises though, there is no 1080p video recording and only 5MP resolutions will work in the default camera application. There also seems to be an issue with Facebook crashing on some phones. However, patches are already available for the camera here and Facebook here. These will be rolled into the next FXP146 release. Seems like a great achievement by the FreeXperia team and brings a stable enough Jelly Bean ROM to those willing to try it.