I don’t own an iPhone. I also don’t watch TV (unless you count “Fox Soccer Report” and “Drake and Josh”). Theoretically, however, this seems fun. ElGato updated its EyeTV TV streaming software (think SlingBox, if you’re unfamiliar) and now it’s able to stream TV shows over Wi-Fi to your iPhone and iPod Touch. You’re not streaming live TV, mind you, but prerecorded content stored on your EyeTV-tethered server or Mac.
The update also improves h.264 HDTV playback, but that’s not nearly as headline-grabbing.