No, this is NOT the same as iPhony, the Palm OS app for Treo that emulates the iPhone look and feel – this is iPhoney, a “pixel-accurate web browsing environment” to help web developers design web sites for the iPhone. And in case you’re wondering, it’s also not a full-featured iPhone emulator, so you can’t make phone calls with it.
While iPhoney still has a few limitations, it’s open-source, and developers are encouraged to participate in making it even better and more useful (maybe even some actual Apple iPhone developers will pitch in? C’mon, it’s in Apple’s best interest to make the iPhone as useful as possible, and this tool will certainly help!).
iPhoney currently requires Mac OS X 10.4.7 or later, but hopefully a PC version will come along soon.
Another useful link for web site designers is Apple’s iPhone Web Development Guidelines.