If one word comes to mind when we think of combining the most successful media phone in the world with the best (legal) web video site, it’s “badass.” That’s exactly what web video monster Hulu.com is calling their new app for the iPhone, and understandably so.

Hulu won’t be the first to enter the streaming video scene on the iPhone, but it’s certainly the most prominent. The new app is said to support both Wi-Fi and 3G streaming, giving you the opportunity to catch up on 30 Rock anywhere, anytime.

The Hulu/Apple partnership strikes me as quite the boon for Apple. Hulu is a big deal, and having the ability to watch popular programming at any time is sure to tip a whole host of people who might already have an inkling for an iPhone. Toss in some ad revenue sharing on Hulu’s part and you have the start of a beautiful friendship.