That would be awesome, however judging off of that excerpt it seems like it's just an app that allows players to check how they're doing in the game on their PS3 / 360 / PC from their iPhone and buy stuff from Auctions, etc. You'd still need the actual game and this wouldn't be the full one
All they're talking about is an app like the one for Call of Duty Elite that allows you to check on your character, trade, etc. There's a similar one for WoW on iOS, and, if Square makes it, you can almost be certain that its coming to iOS. The point of such apps is to serve as marketing for the commercial release, and considering the size of the iOS market (and how many gamers have iOS devices), it's pretty much a no brainer.