Theatrical Release Movies on your iPhone

Not that I am endorsing this, but I can verify that it works (well)....

PirateBay + Azureus (or other BitTorrent client) + iSquint (video conversion software) + iTunes = new movies on your iPhone

DVD quality copies of DieHard 4, Knocked Up, Ocean's 13, Bourne Ultimatum and more in your pocket. Or you can go for handycam versions of newer movies like SuperBad.