The iPhone doesn't have the hardware power to play
WoW. Now,
WoW isn't the most demanding game out there, but processors measured in MHz and RAM in MB isn't even close to it's minimum requirements.
If anything it would be a streaming program, but really, the screen isn't large enough for all that much, the only thing it would be good for (imo) is checking the AH or doing some selling. If it is a streaming program, It will be useless unless you are near a WiFi node, as 3G doesn't have the bandwidth to play the game properly.
Even in a streaming setup, you will be bottlenecked by the connection, as transfer speeds on a wireless connection vs a Harddisk on a computer are much slower.
Absolutely pointless imo.
Edit- Did some research on the company shown at the beginning of the video "Vollee". They apparently no longer even exist, their
website is offline, and their phone numbers are disconnected.
~V