This Short film was entirely shot and edited right on the iPhone 4 using the new iMovie App for iPhone. It really is incredible and it took the makers behind this short film 48 hours to complete. Of course in order to get very stable results, the short film makers used custom camera dollies with the iPhone 4 mounted on. This short film really shows the full potential of the iPhone 4's HD camera. Note: To view this in HD, click the source link below.
Source Michael Koerbel