Didn't see this posted, but sorry if it's already been brought to your attention.
Go to http://iphone.tvcatchup.com/ on your iPhone safari browser. It's free to sign up, and allows you to watch live television (with about a 20 second delay) on your iPhone.

But u dont get all the channels with the app do ya?

You get a good amount. Not many but there are most of the main ones there. It's not a downloadable app unfortunately, just a website you visit that's compatible with the iPhone (and possibly iPod touch if you have wi-fi.

http://iphone.tvcatchup.com/

That shows you the channels available, as I you can watch it on the computer I believe also.

I thought the iphone version was an app. I watchmit on my N97.. Yea works on ya pc too

Done to death here.....tvcatchup+iPhone

Wow. Thanks for that, OP. I'm well impressed