You can enter the code on a iPhone running the 3.0 GM seed to download the App.
EDIT: No you can't. It downloads but quits at the end of installing saying you need to connect to a PC. Bugger.
i need help. i tried to enter the code on my iphone at work, and it downloads but quits at the end of installing saying you need to connect to a PC. now when i try and download it form itunes it says "This code has already been used...." now my appstore app on my iphone keeps popping up with an authentication window, but i can login fine and download other apps from it.