Boxee, a company known for providing software for the Apple TV and other platforms, has created an application for the iPhone that will allow you to use your mobile device as a remote. Like the Apple iTunes Remote, its purpose is to make it easier to control your media from a far distance. The application is already in the App Store, and is free. Currently, it has gesture and button mode and works over Wifi on your local network. One of the best parts about it is that you can more easily enter text by using the iPhone keyboard instead of having to use a keyboard on your TV.
Based upon the video, it appears to work very well and offers a nice alternative to use to access your media. The guys over at Boxee are doing a great job to make the Apple TV 100 times more functional that Apple has it when it is shipped. I look forward to seeing more innovations and improvements from the developers over there as they make accessing our media so much easier.