Physical Camera is the best camera type to use for photorealistic, physically-based rendering.
A physical camera icon in left and perspective viewports
The level of support for Physical Camera features depends on the renderer you are using.
Perspective control is supported but some settings might not respond to certain scenes.
The iray renderer
does support Perspective control Shift
The Quicksilver renderer always uses the Circular aperture for bokeh areas of the scene.
Perspective control is supported but some settings might not respond to certain scenes.
Other third-party renderers have the same limitations as the default scanline renderer, unless they have been explicitly coded to support Physical Cameras.