You're assuming that CCDs are perfect image sensors that don't have noise to cause feature trackers to jitter.
You're also assuming that sparsely featured objects only need simple back/belief propagation to make a good model, finally doing it in less than ten hours on an iphone at anything other than <320voxels^3 is pretty impossible.
Even decent commercial laser scanners only have limited resolution at this scale. Your best bet is either lightfield capture or http://web.media.mit.edu/~achoo/polar3D/camready/manuscript_... (which I've not read fully yet, however looks pretty sexy, even if its not very general.)
But it's not the only way. There's one notable alternative method, which is LSD-SLAM: https://github.com/tum-vision/lsd_slam
In general, it's extremely hard to get good quality models from a cellphone camera. Believe me, thousands of innovative researchers are trying their best to make it better.
The best work I've seen recently (from MIT) uses two sensors with different polarization filters to get an additional signal to help with noise rejection and surface estimation.