"Cover Flow Multitasking" for iPhone.
As good as the iPhone is, there are still a few features missing. One being the ability to multi-task between the plethora of apps you have installed.
This video by Ocean Observation shows how they would tackle the multitasking problem, and while their solution occupies too much home screen real estate for my liking (it could hide away and only appear when user taps the home key twice), it is definitely a feature I would use.
Wonder if the folk at Apple are pondering such things?