The document discusses that: 1. The iPhone OS 4 developer package allows for more advanced video capture and editing apps, as well as augmented reality apps. 2. The iPhone 4 Beta SDK reveals the ability to capture video at 720p (1280x720) resolution, suggesting a future iPhone will have this capability. 3. Rumors indicate the next iPhone will have a 5 megapixel camera and HD video recording capabilities, in line with the SDK showing support for 720p video recording.