Came across a project from Microsoft Gold Partner MS Team called
MobileNoter. This appears to be OneNote like application for the iPhone that uses a desktop sync piece to allow it to sync your OneNote sections to the app on the iPhone OTA. Interesting. The say it will go to beta soon and you can sign up for notifications at the site. As a lover of both OneNote and the iPhone I will keep an eye on this. I had been using
Evernote to recently fill the gap as it works on all devices and platforms.