Jay wants to use his iPhone as a camera and connect it to a hard drive to record for over a half hour. Leo says that some Android phones could do this with USB to Go, but not with the iPhone. Apple doesn't want users to do that. There's also the case that some processors get too hot over time and as such, will stop recording after awhile. That may also be an arbitrary limitation due to taxation as DSLRs are taxed differently from camcorders.
Bottom line though is that it's Apple's way or the highway. There may be a jailbreak that allows him to do this, but Leo doesn't recommend it as it makes the phone unreliable.