When the next iPhone update happens, getting the ability to record video may be just the tip of the iceberg.   Imagine the ability to not just capture video, but to edit it, add titles, music and special effects right on the iPhone.  And then, with a click, upload it for the world to see on YouTube.

According to Peter Burrows, “Apple will make the iPhone a one-stop studio for recording, editing, viewing and sharing your own videos…”  Making Movies: The Next Big Thing in iPhones?

The real clicher, of course, would be the ability to use multiple iPhones to capture different camera angles (or audio tracks) and quickly be able to edit them together.  That, my friends, would be the proverbial shizzit.