Nick Lee has developed a new App Called “Handy Light”, it’s an unofficial Proxy tethering to the iPhone which is hidden behind what appears to be which is a simple flashlight app that uses the screen for illumination in the App Store! The App will be removed as soon as Apple knows, so get it now.
Here’s the Speed Test done after Enabling this function (better than home Wi-Fi):
Nick Lee has posted a video showing how to activate the functionality:
Download HandyLight for iPhone and iPod Touch. Instructions to Enable this Function posted here.
Update 1: Apple has removed it, feel sorry for who missed this App!