The application allows you to record video in compressed MP4 format. It's not quite the DVD quality video that you can enjoy on some other handhelds -- there's no 30fps VGA movie clips here -- but you are able to create video clips at a resolution of up to 320 x 412 pixels at 15fps.
As you can expect, iPhone Video Recorder will only work on jailbroken handsets. Add the "http://www.iphone-recorder.com/install2" repository to your Sources list and the app will be found under "Multimedia." The demo caps the length of your clips to 30 seconds. To go beyond that, you'll need to pay the developer a cool $19.95. Additional info can be found @
http://www.freeiphonefiles.com