It was just a matter of time. Recording music on tape is long dead, replaced by digital recording on hard drives, which is about to be replaced by… the iPhone? Clive Young:

Ask anyone with an Apple iPhone what he thinks of it, and odds are you’ll hear a rave about how it can do most anything. As if to underline the point, indie band The 88 recently created its latest single, “Love is the Thing,” on the ubiquitous device, using FourTrack, a recording app by Sonoma Wire Works. Perhaps unsurprisingly, the song is now for sale on iTunes, where it’s the top-selling song of the band’s online oeuvre; what is surprising, however, is just how good the quirky chamber pop song sounds when you consider its origins.

What’s next? Indie movies recorded and edited on the iPhone?

UPDATE: First music video on the iPhone 3GS from Reyna Perez.