New iPhone to have Video

There have been loads of rumours about the new iPhone having video recording and editing, so will this mean that Apple will open the video API to developers? Is it already available in 3.0?

When I think about some of the excellent camera apps that have surfaced for the iPhone I can only imagine the kind of video apps that will arrive if this is opened up properly. One of the things I've really wanted to see was an app like TrakAx Mobile for the iPhone.

I guess I've only got a few weeks to wait to see what actually comes along.