According to the report from AppleInsider, the new iPhone 3G S is capable of recording 720p video but for some reason doesn’t.  Leaving some room for future expansion Apple?

Here is a direct quote:

“Samsung also notes that its chip sports a high definition multi format codec enabling higher resolution multimedia functions at low power consumption. Specifically, it states that the S5PC100 “features a built-in, 720p multi format codec (MFC) video Engine which ensures smooth 30fps video encoding and playblack at low power consumption, and supports three types of TV out interface (NTSC/PAL/HDMI).”

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