Get twenty of these small cams (iphones), set them up all over the scene, find a good editor, and watch the magic. Sounds interesting to me.
Do you hate editors? Because that would probably make a good editor "magically" go ape ****.
Editors perform magic the same way witches do, with good ingredients. Bring a witch some Turtle Car Wax, instead of wax from a turtle, and your love potion #9 that you contracted the witch to mix up for you will probably only be guaranteed to work all then time 0.01% of the time.
I'd rather edit a scene from 1 DVX in the hands of a good shooter, than a scene shot with 20 iPhones placed around a room.
Still, if you want to get your short "film" noticed, weld a Letus onto the new iPhone & you're sure to get at least 50,000 hits on Vimeo just for following the latest fad.