
http://vid-atlantic.com/iphone35.html
Sample videos:
http://www.youtube.com/watch?v=6yy_pQ-tIxg&feature=related
http://vimeo.com/28121251
I used to be in the camp that thought this type of product for the iPhone is ridiculous. But I've been looking for a cheap DSLR or micro four thirds camera that takes good video and haven't found one (please recommend if you know of one). Then I came across the Encinema iPhone adapter. For $210, I can get the adapter and have money left over to spend on lenses. You need an app to flip the picture but I'm assuming you can use apps and flip the video in iMovie or on your computer afterwards. The ability to use other apps would be a huge plus.
I'm not entirely sold on the product since some user videos show vignetting and graininess, but it does look very promising for me since I'm not a hardcore photographer so I would love to hear from anyone who has tried/purchased it.