iTunes maintains a backup for your iPhone, which is updated as the first step during the iTunes sync process. This link provides the data that is included with your iPhone's backup.
http://support.apple.com/kb/HT1766
Although contacts are included with your iPhone's backup, contacts are designed to be synced with a supported application on your computer.
Although photos in your iPhone's Camera Roll are also included with your iPhone's backup, photos in your iPhone's Camera Roll should be imported by your computer as with any other digital camera.
iTunes content including 3rd party apps and any photos transferred from your computer are not included with your iPhone's backup. All iTunes content including 3rd party apps should be in your iTunes library on your computer, and any photos transferred from your computer should remain on your computer.
Before restoring your iPhone with iTunes from your iPhone's backup, import any photos from your iPhone's Camera Roll that haven't been imported. Follow this by syncing your iPhone with iTunes to update your iPhone's backup along with any data kept synchronized with a supported application on your computer such as contacts and calendar events.