If the video available at the bottom of this post is real, it appears that World of Warcraft (WoW) will be out for iPhone via the mobile gaming service Vollee. Vollee technology is capable of playing Games PC games over 3G capable devices. It means that the game will be running on a PC somewhere and then a compressed form of that game will then be streamed to iPhone over 3G network providing a client side interface for seamless gaming experience on iPhone.
Another thing that validate this rumor is that Vollee has a partnership with Activision | Blizzard, the folks behind World of Warcraft (WoW). WoW as an example, we could imagine playing games like Call of Duty on mobile devices with similar graphics to that of on a PC or Console.
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