Zoetrope

a Wired blogpost details a security flaw in iPhone OS 2.0.2 where you can access the address book, Safari and Mail through the double-tap shortcut on the home button of passcode-locked iPhones.

Of course, the question remains how many people actually passcode-lock their iPhones. I can't even remember if I've ever enabled automatic passcode-locking on any phone I owned ;-)