Mark this down as the best class project ever. For one of my classes, we had to do a DIY project of our choice, and I decided to take apart a DVD player, and use the lens inside as a high quality macro lens for my iPhone. The hack shouldn't be too hard to replicate, especially if you're used to tinkering with with hardware.
I'll let you read the full rundown of the process over at our course blog, but you can check out the gallery of pictures I took above. As an aside, I was using a macro filter on my Nikon SLR to photograph the process, and the iPhone consistently took better macro shots with a haphazardly-attached DVD player part. If you have an old DVD player sitting around, this is a great way to kill an hour over the weekend.