I got a case that allowed me to mount my iPhone 4 to a tripod, and I found an app that allowed me to lock off exposure/wb/focus so I decided to see what I could achieve on the iPhone 4. I took it one step further and downloaded ReelDirector to also edit together the footage, then uploaded using PixelPipe to vimeo.

Overall I was impressed with the quality of footage, the app I used "Almost DSLR" worked quite well and really helped expose scenes properly.

ReelDirector I'm not so happy with, it had some issues, took a long time to export and overall compressed the colored the final video weird.

I'm probably going to attempt to edit again using iMovie for iPhone to see if the compression is better.