I had the benefit of beta testing a new iphone application called Redeye by ThinkFlood.  Essentially this application plus physical hub turns your iphone into a sophisticated remote control for all your appliances that use infrared, think: TV, DVD, Cable, Stereo, etc…

After receiving the box in the mail it took only a matter of a few minutes, following the 5 point instructions, and I was ready to start using the remote.  The major drawback at this point is syncing it with your current remote control because of a lack of input codes.  However, this is only a beta test inconvenience because I believe in the live version they will have this sorted out.

I inputted all the important keys from my two main remotes (tv and cable) and began testing.  I created a layout and was able to perform all the key functions of my remote controls with my iphone!

Overall, even in beta this app is really slick.  After a few upgrades I can see this being the number one app for the iphone.

Currently they are selling the beta units for $119.  If interested, which I highly recommend you do, check them out here.

Update: The app is now available in the itunes store. Click Here