Video Grab gives you a Video Camera on your iPhone 2G and 3G. If you've got a 3GS phone then you don't need this app.
Videos are recorded at a resolution of 320x280 with either 5 fps or 10 fps. I suggest you stick to short clips at the lower frame rate as it can take some time to process large video clips.
Features:
For support please visit the Video Grab blog and the Support Forums
This software uses code of FFmpeg licensed under the LGPLv2.1 and its source can be downloaded here.