Tunewiki is an iphone application that allows users to download music lyrics on their iphone. The start-up launched in December 2007 and has raised an initial round of financing from Benchmark Capital (see full techcrunch article).
I have attached below a video demonstration of this new iphone application.
Tunewiki currently works on jailbroken iphones but from the growing popularity of the app they may going legit in the near future.
Posted by Martin 
Online Observer 