We mentioned this in the announcement post about the Verizon iPhone 4, but it's worth repeating. The Verizon iPhone, which was running iOS 4.2.5 at today's demo, includes a mobile hotspot feature. What this means is that you can enable a feature that would allow the iPhone to act a a mobile Wi-Fi hotspot, similar to a MiFi or other Android devices. When acting as a hotspot, you can connect up to five devices to the iPhone, taking advantage of its connection to the Verizon network. There were no details on what the feature would cost, or how much bandwidth would be allowed, but it's definitely nice to know that the feature is coming.
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