Although I have not examined the details of the recorded data I have had success recording BT GPS, WiFi OBDII, acceleromoter, and 720p video in an autocross scenario (recording time is about one minute +/-). The iphone 4 is jailbroken and is running BStack GPS.
Re-used blue tooth MaxQData GPS (i-Blue 737 with 10Hz update rate $70 new $50 used)

Files (April 14, 2011 Firebird International Raceway West)
Video - started/stopped via GPS points at start/finish. Time accurate to the tenth of a second compared to official clock.
http://www.youtube.com/watch?v=csNlMlQm0w4
KML file with GPS fixes turned off

Export Files (CSV, KML, PDF, CSV - for TrackVision or DashWare, HLPTRL)
http://dl.dropbox.com/u/22876541/April% ... 0Files.zip