Update: The WordPress iPhone app is out now! Head to iTunes and download it now.
From WordPress for iPhone blog:
Just a quick update that we’ve successfully uploaded the app to the iTunes Store, and the status message “In Review” indicates that the Apple team is conducting their testing procedures. We have not been provided with an ETA — so it could get approved at any time.
The WordPress iPhone app is awesome and I’m sure it’s going to make a lot of people happy. It’s been through a number of rounds of tests so a lot of the prelaunch bugs have been ironed out. Best of all, it is open source, so it may help other budding developers discover how iPhone apps function under the hood.