iPhone 4 Film Making..

I remember when a phone was for calling people. Then the texting craze happened, followed swiftly by camera phones which, lets face it, were extremely pap.
Then along came apple and their iPhone and took phone's to the next level. 'Apple Of My Eye' was shot and edited(?!) on the iPhone4. I didn't believe it till I saw the making of, although I'm still skeptical about the audio.