Inspired by the iPhone 4, I went around the city late this afternoon finding interesting shots and testing out the HD video recording using a tiny tripod not much bigger than the phone itself a friend put together (we call it the Mk1 likening it to Iron Man's suit. Mk2 has already been built and incorporates a case)
I did a lot to try and trip up the auto exposure and focus settings, shooting into the sun and filming fast moving water but it performed pretty well albeit with a tendency to blow out highlights a little. Like all cameras it got better results when working with the light and altering the auto-exposure by touching various parts of the image really making some shots pop - the BBC Building being a great example.
It's pretty mind blowing that I filmed and edited this entire thing on my phone. iMovie is a basic editor but how many projects really need more then a hard cut or cross fade?
Audio Note: Though not used in this video I hooked up a 3.5 earphone jack tie clip mic and it recorded superb audio I believe is 64kbps AAC (CD mono quality)
The photo below and to the right is of the iPhone Tripod Mk1 (supporting a 3GS in the pic)