The new Blue Mikey (2.0) will not work with the iPhone 4 or iPad. It's a big letdown for me, as I don't really care if Blue can support previous-generation or outmoded equipment with their mics.
Their CEO, John Maier (no... not John Mayer...) said their engineers are hard at work increasing compatibility with iPhone 4 and iPad. Great. Maybe we'll see the Mikey 3.0 next year sometime. I'm not holding my breath.
I guess I'll stick to my own setup for recording audio on the iPhone 4. I was really hoping this Mikey revision would allow me to leave all my cables and mics behind, and stick with the Mikey alone, but that's not the case.