Found this on another forum that I frequent. Something to consider if you take a lot a video.......
http://www.intomobile.com/2010/07/21/diy-iphone-4-steadycam-rig-is-simple-awesome-cheap/
http://www.intomobile.com/2010/07/21/diy-iphone-4-steadycam-rig-is-simple-awesome-cheap/