Hackers have successfully managed to get Linux running on the iPhone, that can boot a functioning version of Android. The first release is still buggy, and may not work perfectly on your iPhone just yet, as the code and drivers are still being developed.
The video released by the hacker, although bad quality, clearly demonstrates that Android can run as a dual-boot on the iPhone. When the iPhone is first booted, the user is prompted with a screen to choose their iPhone install or hold down the home button to boot into Android.
Not only did the hackers release a video, but a pre-built image of OpeniBoot loader. Users should know that this currently only works on the iPhone 2G and should work on the 3G. The team says that the iPhone 3GS will need some more work before releasing.
The video demonstrates that Android (unknown version at this time) can boot, make phone calls, receive messages, WiFi, and many other features are working too. Perhaps now we can get Flash on our iPhone.