Yeah, so I watched a movie on my iPhone on the bus for the first time. It was "The Iron Giant", a 1999 animated film by Brad Bird, the former Simpsons dude who would go on to work for Pixar and direct "The Incredibles" and "Ratatouille". Fantastic film - I'd always heard it was good never really felt the urge to watch it.
Not sure about watching a film on the iPhone - didn't mind it too much I guess, but I got a bit of a headache from it afterwards.