The much anticipated DataCase application for the iPhone launched this morning.

The app, which costs $6.99, turn your iPhone into an easy-to-use wireless storage device that can be access by any other device on your wireless network. A one way drop box can be added to a normal machine to drop files onto the iPhone, or alternatively you can set up a two-way shared drive to move files between the iPhone and a computer.

I’ve been testing it and it works, for the most part (I’m having trouble re-connecting after closing it down and re-opening). Definitely worth the $7. Any business user will want to download this immediately. One cool feature that I wasn’t able to test – DataCase says it can stream video from the iPhone to a computer.

See the demo video in our previous post. More information and the download link is on the DataCase website. The app is available for both the iPhone and the iPod touch.