Found Footage: iPhone Video Test
Today, I wrote a program to access the iPhone camera and shoot pictures as fast as possible. Unfortunately, it's still a slow process. I'm only getting about a frame every second and the iPhone balks when I try to go faster.
If you'd like to try things out yourself, download a copy of snap2vid. Create a utility folder named /foodir and run it from there. (^C to stop taking pictures.) After you finish your image capture, ftp all the images to your Mac and use QuickTime Pro to load the sequence and save it to a movie.