Monster and Friends posted a demo application for the iPhone that allows it to record video at up to 45 frames per second. In its current form, it can only record 5 seconds of video, but the developer expects the final version will record somewhere between 15-30+ fps and have an unlimited file length.
Gizmodo posts a video demonstrating the application.
As always, this requires a hacked iPhone to install a 3rd party app, but does demonstrate that the iPhone is capable of video recording. Hopefully we'll see some official applications once the official developer's kit is release in February.
Related Forum: iPhone
