Our friends over at Palm Sounds (an awesome site for gadget loving musicians) just turned us on to a killer video by Spencer S. Watson, demonstrating how to construct an iPhone 4 Steadicam. I imagine it works quite nicely for the 3Gs as well. The demo footage looks pretty swell. It’s certainly not a replacement for a multi-function grip like the Owle, and it might not be as smooth as the Steadicam Smoothie. Rather, it looks like a terrific (and inexpensive) addition to your camera kit. Totally worth the $30 Spencer spent to build it.