Err... you may be disappointed though. Particularly if you were on the lookout for some manbits.
Considering the iPhone doesn't have a front-facing camera, video-chatting on Chatroulette with your iPhone just wouldn't work. So it's no surprise the Chatroulette! (exclamation mark their own) app is a fakey. Developers xhumans describes the app as allowing you to connect "to a random user to chat with". Text chat, needless to say.
Sooo, you may as well go back to leaving your AIM details on bathroom walls, or just firing up your old ICQ username, if typing weird come-ons to strangers is what you seek. It'll save you $1.19, anyway. [Chatroulette! via Mobile-Ent]