Apple's little sliver of gadget joy supposedly has a full installation of OS X hidden somewhere in there, and since WoW is available on OS X, you just knew WoW was going to appear on the iPhone sometime. It hasn't happened yet, but as the video shows, we're getting there.
In this case, the magic key is a little program called Telekinesis (created by the same guy who created Quicksilver, if you're part of the Cult), which lets you channel monitor output to your iPhone, as well as allows mouseclicks and even simply typing back into your computer.
So it's not really WoW running on the iPhone (yet), but rather an instance of WoW controlled by an iPhone-- it still has to be run on a separate computer. Unfortunately, implementation actually turns out to be pretty poor-- this is not even barely playable. The guy who did it says he can chat, so I guess it's a first step. But while I'm sure we'll get there, we've got a long way to go.
[ via a newly redesigned Joystiq ]