Great googley-moogley! This is the niftiest thing I’ve seen all week. Canon-only so far.
From the site:
DSLR Camera Remote is the next-generation cable release for your Canon EOS DSLR camera. Just connect your camera to a WiFi enabled computer and the DSLR Camera Remote software enables you to use your Apple iPhone or iPod touch to wirelessly adjust cameras settings, fire the shutter, review images, even get a live viewfinder preview. DSLR Camera Remote is a must-have for remote shooting applications like high or low angles, self portraits and children. With its advanced timers it makes remote monitoring a snap. No internet connection required!
UPDATE: Now works with Nikon and the iPad!