Just saw this article on Redmondpie.com, it was also on forbes.com
Link to Micro Systemation's XRY docs
"Micro Systemation makes ‘XRY’, which is demonstrated in the video and shows just how easy it can be to access a passcode locked iOS device using vulnerabilities and exploits similar to those which jailbreak dev teams take advantage of. The tool quickly bypasses any device security and then efficiently dumps device data such GPS data, call logs, contact data, text or email messages as well as a log of all keystrokes on the device.
http://www.youtube.com/watch?feature=player_embedded&v=u1Gb5stnc54#!
