If the 5x digital zoom on the iPhone 4's 5 MP digital camera doesn't make your heart pound with joy, maybe you should dig out some of those lenses from the SLR film camera that you're not using anymore and use 'em with your iPhone.
We're not sure of the source of this Franken-cam, but it looks like the real deal. Think of this as an über-Owle Bubo, with the ability to use higher quality lenses with your iPhone to take amazing photos.
Starting with a Manfrotto Model 797 Modopocket tripod, the rest of the rig appears to be some sort of clamp holding the lens and (on the camera side) a T-mount adapter. I'd be willing to venture that there's some sort of lens in the T-mount so that our friend, the iPhone, doesn't have to squint to see through that nice Carl Zeiss lens...
TUAW readers -- can you identify the other components used here? Should you recognize any of the bits and pieces, let us know what they are via the comments so that the digicam geeks in the crowd can assemble this kit.
[via Technabob and Engadget]