CollabraCam lets you connect with up to four iPhone (4 or 3GS) or iPod Touch 4G cameras with real-time editing and director to camera communication.
So a bit of fun but you can totally see where live mixing of events and webcasting is going. Who knows we may see this type of programme running on touchscreen cameras in the not too distant future.
CollabraCam
You can direct up to four cameras in real time, all while silently prompting your camera operators to pan a shot, dolly in for a closeup and more. Editing is done live by the director, who can view all camera angles simultaneously, choosing the best camera view to put on standby for the next shot. Video clips are recorded to the cameras at 640×480 and are transferred to the director in the background while recording and credits are automatically generated when the session is saved.
CollabraCam On Screen Instructions
A rough cut movie can be viewed within the app and exported to the Camera Roll in three sizes. Clips can be exported to the Camera Roll or saved via iTunes and assembled in a video editing app. With minimal effort, you can trim clips, introduce transitions and add music to complete your video masterpiece.
CollabraCam Direct 4 iPhones
Some issues with audio in switching but you can see that this is the start of something:
For more go to CollabraCam.