Here is a great piece from The Verge on "Tangerine", a film getting rave reviews from this year's Sundance Film Festival that was shot entirely on an iPhone 5s. Pretty interesting video about how/why it was done as well. Can you imagine arriving on set to film a movie and finding out that they were about to film the entire thing on a PHONE? Kudos to the actors and crew for seeing it through, I'm sure there are many who wouldn't have been able to take it seriously.
Also, it never ceases to amaze what people are able to create with iPhones. Super impressive.