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S. Mark Williams, CEO of Modality is giving a talk right now at the WWDC conference in San Francisco about how his company’s platform, run on the new iPhone, would allow students, educators, and professionals to get ready access to key reference materials on their mobile devices. His example: A medical student can use Modality on an iPhone to look up data on the human body, select it, zoom and then look at a detailed piece of medical data on that part of the human body. The same student could also take a test on body parts while waiting in line for a latte.
MIMVista is also doing something similar, allowing doctors to view medical videos and MRI scans while on the golf course. You can pinch, pan with a finger and otherwise maneuver using the iPhone touch screen.
If you can do apps like this on the iPhone, I suppose you can do anything.