The iPhone continues to impress in terms of gaming possibility. Raging Thunder isn't actually done yet on the iPhone (obviously -- judging by this video there are more glitches on this thing than a Matrix full of black cats), but once it gets rolling, the award-winning game, put together by Polarbit, looks like a pretty sweet racing experience. The accelerometer actually serves as a nice wheel (with a little help from the Wii wheel), and the graphics aren't too shabby, either.
We've already seen a few different games like this floating around at TUAW (including one from a big developer that we can't tell you about), but with a little bug fixing and optimization, the right tuning, and a horizontal mode, the iPhone could easily have a great accelerometer-controlled racing game available at launch. And that's just launch -- we can't wait to see what happens when a game like the Wii's latest Boom Blox (which lets you push and pull Jenga-type block structures around -- multitouch, anyone?) makes its way over to our little Apple handheld.
Racing Thunder is available right now on Installer.app, but this kind of stuff is what we're really looking for in the SDK when it comes out in June.