We've got plenty more to explore with the iPhone, but here's a brief feel for what you can expect fooling around (after already having activated). Be sure to check out the HD version!

[MP4] Download in 720p HD (90MB)
[MP4] Download in wide VGA (35MB)
[AVI] Download in 720p HD (90MB)
[AVI] Download in wide VGA (44MB)

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iPhone first hands-on video in HD!