Yes, the classic NBA JAM title has been released by EA for iOS, and it's got everything you remember from the old console version: the crazy announcers, the quick games and even some kooky special characters. The iPhone version was released a little while ago for US$4.99, but this week EA has added a free version to try out as well as an iPad version for $9.99.
The UI is a little clunky with virtual buttons just laid over the screen in the iPhone version, but it works well enough, and the graphics look as good as the modern version on the Wii. There is local multiplayer via Wi-Fi and Bluetooth, but there's no Game Center integration or online play, which is too bad. Still, it's a quality port of the recent console title, and as I said, all of the fun stuff you remember about the old game, including the over-the-top dunks and announcer Tim Kitzrow. If you missed out on this one when it came to consoles, it's probably worth picking up for iOS.