Holy crap...this sounds like a nightmare...No really it sounds cool but super taxing! H.264 is a ***** to work with on a MacBook with 4GB's of RAM, I don't even want to attempt to imagine what 45mbps 1080p H.264 would be like on an iPhone...interesting though still have to read the whole thing...definately gonna need some virtual memory for this...Also H.264 is extremely CPU intensive...anyone who's ever encoded large H.264 files knows this