If the above video is real it appears that World of Warcraft is in development to be released on the iPhone via the mobile gaming service Vollee. Volle is a company dedicated to making PC games playable on 3g mobile devices. Basically how everything reportedly works is an instance of the game is running on a PC somewhere and then compressed and streamed to the iPhone via 3g (or WiFi) allowing a seamless gaming experience through a client side interface altered to make the game more playable via the iPhone.

What helps the validity of this rumor is Vollee has a partnership with Activision | Blizzard, the folks behind WoW.

Hello insufficiently intelligent person!

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