There is an App that was just released called Face Unlock, which will allow you to unlock your phone with facial recognition via front-facing camera. The App will set you back $0.99 and requires an iPhone 4 or later running iOS5 or newer. Because of the new-ness of the App, there are few reviews and the ones that are available aren't very favorable...
After reading the App description (above), it seams after the phone 'reads you face' you still have to enter a passcode and/or perform a screen finger swipe to 'actually' open the phone.... so really, What's The Point of this... seriously?
...Anybody out there got this? What are your thoughts?