I found this video of a guy running Android on his iPhone. I had seen other fake videos, but this one is for real. The guy behind the alias Planetbeing has recorded a video with a live demonstration of his achievement in the thrilling terrain of iPhone hacking: a mostly functioning build of Android running on an iPhone 2G.
He considers it still an alpha version; while the touchscreen seems to function well enough and WiFi is in working order, there’s still plenty of work before it’s really practical to use. It’s actually a proof of concept development. There is also no information about the cam working or not.
And remember that you should not use this to get porn on your iPhone. That would make Steve Jobs sad.