As mentioned toward the tail end of this morning's liveblog chat with Rogue Amoeba's development team, there is a version of RadioShift in the works for the iPhone and iPod touch; the proof is in the (video) pudding. You can see the full-res QuickTime here.
As in the desktop version of RadioShift, you'll be able to review a radio guide and tune into thousands of streaming programs from stations around the globe. The in-progress version has a ways to go (it doesn't actually play audio yet!) but it's exciting to see the efforts of a major Mac developer extended onto the iPhone.