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I haven't read anywhere that the iPhone will be able to RECORD video. It should be one of the features mentioned most but I can't find any information regarding that. The iPhone is THE phone i want to buy next but if the video recording ability isn't there or is crippled then I don't see any reason not buying a N95 before getting an iPhone that records video good enough (640x480@30 fps just like my Sony T30 and all high end new phones).
Any one got clues (or an iPhone and can test this feature?)