Smashbox Camera Ready CC Cream is supposed to "fade imperfections, even the complexion, and prevent future discoloration." It also claims to "prime, perfect, protect with SPF 30, moisturize, and control oil." (All claims from Sephora website)
I have this in the shade Light; it's available in 5 shades. The light shade has a distinct yellow undertone, which helps to cover some redness I have in my cheeks. The coverage is, at best, a step up from a tinted moisturizer. It blends nicely and feels good on the skin. I feel it does fade quite a bit throughout the day on my normal skin. I'm not sure about the claim of fading imperfections since I don't wear it everyday.
This certainly isn't a full coverage foundation, but is nice for wearing on days when you don't feel like doing a full face. It has decent SPF.
Overall, this is a nice product but I doubt I would repurchase... Mostly because there are so many other face products to try!