The feature known as Internet Tethering, which means you can use iPhone to provide your PC/Mac with your iPhone’s internet access, is said to be available within iPhone OS version 3.0.
The developer of the iPhone game lights off, Steve troughton, uncowered in a tweet that he got access to the option:

Here is the screen that comes up in the phone:

We will post instructions soon about how to make use of it!
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