Here is a way to get the phone to record video (and playback on the iPhone) at 1080×800 @ 30fps at up to 20Mbps. (up from the original 640×480 @ 3Mbps) (I am using the non-standard 1080×800 in order to keep the video at the right aspect ratio)
Antoni has also provided the necessary files to record at a resolution of 960x720 if you so prefer.
Check out the sample video below. We will be posting tutorials on how to do this shortly.
Read More [Thanks Ramone]