Zodttd has teamed up with Craig (works on the OpenPandora.org project) and Ruckage (Artist with experience working on GP2X games) with the goal of making a commercial iPhone game in just 30 days. The game titled Wizzley Presto and the Mysterious Time Machine is basically a mashup of the old skool Dizzy and Harry Potter and should be completed 19 days from now.
Something really cool that they are doing is actively blogging details about what they are working on and how they are overcoming issues etc in iPhone game development as they go. It's neat to follow what they are doing and some of the issues they have run into along with the solutions (the image above is an example of how they are handling object collisions). You can keep up with their progress yourself at 30daygame.com.
Oh also, when the game hits the AppStore the first person to beat it is going to win $1,000 so you might consider keeping up with the project for your chance to win