I think that would overload the phone, because my windows computer gets overloaded by wizard101 all the time, and it's only a year or 2 old. Sorry to burst your bubble, but it's probably gonna be a long time before that happens.
you realize how lagged out it would be? it would prolly take an hour JUST to enter the game, then it would have to load everything in that world. if they did an iphone bazaar then that is a good idea. you could connect to the game and buy/sell your items that your char has/wants.yes it sound like WoW armory and auction house apps, but its still a good idea