This video first hit the internets last year—but it's no less cool now. From the description:
Father and Son team launch an iphone into space. The iphone along with a HD camera were lifted up to an altitude of 100 000ft above New York using a helium filled balloon. At this atitude the weather balloon burst and sent the iphone, camera and burst container hurtling towards the earth at 150mph even with the parachute open! Thanks to the iPhones internal GPS, the capsule and its contents were located intact in a tree 30 miles north of the liftoff site!
Unfortunately it's covered with crappy ads and has a mountain of keyword spam on YouTube, but it's still a great video. (Thanks Glen)