Macrumors is posting the screenshot of what appears to be iPhone 3.0’s video recording interface. It looks pretty basic but indicates that it will be part of the Camera.app.
The video recording is not presently functional in iPhone 3.0 beta, and the interface is not accessible by default. Only when configuration files were modified telling the firmware that a Video Camera was present will this interface appear.
Other interesting capabilities found in the configuration files include "auto-focus camera", "magnetometer" (digital compass), and "Voice Control".
The "pooh your pants" feature in all of this is the "auto-focus camera". That implies that the camera on some of the new iPod, iPhone, etc. devices is going to be more point and click worthy – perhaps that 5 Megapixel jobbie we’ve heard so much about.
Combined with the GPS, the Magnometer could be used to build 3D worlds in a future iPhoto type of application. The application would know the location and direction of the photos shot. Photosynth, watch out.
We also like the idea of voice control in a camera: Being able to say "Snap!" and having it take a picture instead of you rather than doing the rusty trombone reach around..
Jailbreakers and other smartphone users: Yes we know we’ve had video recording/5 megapixel cameras for 300 years.