iLaunch is a $9.95 application that's reminiscent of the earlier iPhone app/skin, but with a couple of key differences. The main one: this app/skin (presumably) contains 95% less sue-able intellectual property. Different graphics and icons, but basically similar design cues and methods for getting around.
Me, I'd rather use Spb Mobile Shell - which is a great "thumbable" interface for WM that grabs into a lot more functionality.
Read: DVD to iPhone®
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