There is shaky camera work in this awesome movie! Christopher Nolan used this effect as well as many others to make this movie one of his best again! He also used the old school 3D effect to let the viewers see how real it can be.
While there is some "shaky cam" in Inception, it is done so effectively that it adds to the movie rather than detracting from it or distracting the viewer. It helps to show Cobb's emotional state during some scenes.
I agree with rloaks. The main thing for me was that the camera work did not make me nauseaous as the shaking camera did in a movie like the 'Blair Witch Project', which ruined the experience of the movie for me.