That assumes that the iPhone is running Safari 3. I don't know why everyone has been assuming this. IRC, Jobs made not connection between the Safari 3 beta and the iPhone. In fact, since Safari 3 is still beta, it seems unlikely (I'm sure they will update it later).
If you want to believe it, http://www.gasapp.com/iPhone/ , even more seems to indicate that, at least the pre-pro units, are not running Safari 3.
Personally I think they should have clarified this.