8mm Vintage Camera by Nexvio Inc, is the the iPhone app of the week.

8mm Vintage Camera brings your iPhone and iPod Touch back in time to capture the beauty and magic of old school vintage movies. By mixing and matching films and lenses, you can recreate the atmosphere of those bygone eras with 25 timeless retrolooks. Dust& scratches, retro colors, flickering, light leaks, frame jitters - all can be instantly added with the swapping of a finger.

Here’s their demo video:

Features

• Swap lenses and films at any time
• Trigger frame jitter during recording
• Turn on/off flash on supported devices
• Switch between front and back cameras on supported devices
• Tap to focus and adjust exposure
• Export options: Save to Camera Roll, email, or share on YouTube
• Transfer movies quickly to computer via iTunes File Sharing

Great old-time video editing for the iPhone 4/3GS and iPod Touch 4.  Check out 8mm Vintage Camera.