Ezone let us know about their upcoming space shooter for the iPhone and iPod Touch called Galactic Gunner. They describe as a "genre breaking cinematic action adventure game" with real-time 3D graphics and effects.
Details are scarce, but they did provide this impressive looking video. They assured us that everything in the video is in-game action in real-time 3D and not just pre-rendered cut-scene videos.
Ezone reports this game is approaching beta shortly and we've asked for more details.