Apple's deigned to let Skyfire, an iOS browser that transcodes Flash videos into iPhone-friendly HTML5 on the fly, into the App Store, and it's available in the US now. In my testing it worked pretty darn well. Yup, porntubes on the iPhone.
Other iterations of Skyfire have been known to be clunky, but their new $US3 app works as advertised: when you come across a site with a Flash video element, it'll send that video out to its servers, transcode it into iPhone-friendly HTML5, and pipe it back to your iPhone. It takes 10 seconds or so to get itself situated, but once it does, the videos look pretty good. Skyfire's magic doesn't work with Flash games or Flash apps, or some premium sites like Hulu, but for the most part you'll be able to get at all the Flash video you come across while browsing, or the Flash videos you discover with the built-in Skybar feature. $US3 in the US App Store only. [iTunes]