I just downloaded and installed the WordPress app for my iPhone. Setup was super simple and with one click I could see my posts. I have created and tagged this post from my iPhone. The only trouble I see is needing to copy and paste a URL. Inline images are also not possible, but adding pics to the bottom of the post is sufficient. Tags, categories, schedule, and passwords are east to set too. For a 1.0 release I give two thumbs up!
I would like to see Comment moderation in a future release. Also improve the inclusion of URLs. Entering HTML code on the iPhone isn’t quick and easy.
You can get WordPress for your iPhone from http://snurl.com/32uhi [--> iTunes Link]
Screenshots attatched. This entire post was created, previewed and published with WordPress on the iPhone.