Miguel and the team at Novell has gone a great job with bringing .NET to the iPhone! We have been working with MonoTouch since it's initial beta release, our goal is to build a framework that all Dynamics CRM developers can use to build applications that run on the iPhone.
The Magnetism.MonoTouch library at present can execute FetchXml queries, bring the results back and convert the raw xml data into a strongly typed .NET class. It also supports basic create and update operations.
We plan to release a beta version by mid October, if you'd like to preview and help us improve the current version email me through the contact us page.