Today a YouTube user posted a video which shows that iPhone OS 4 could possibly feature native flashlight support. It is still not confirmed if this is a feature or a bug in the fourth beta of upcoming iPhone OS.
You can activate the flashlight in iPhone OS 4 by tapping the sleep/wake button thrice. If this turns out to be a new feature then all the flashlight apps you bought from the App Store would become useless.
Is this a feature or a bug? Let us know in the comments.