Engadget is reporting that the good hax0rz over at the iPhone Dev Wiki have churned out a proof-of-concept compiled application (“hello world”) that will run on the good ‘ole iPhone. Of course this doesn’t mean anything for you yet (unless you want to write your own software for the iPhone), but if you’re looking for something a little more practical, grab yourself a copy of iFuntastic 2.0 (for free, of course) and get busy installing those custom ringtones, changing your carrier logo, and tinkering with your icons!