He said it himself: Having an iPhone is one of the privileges of being an Apple board member. (Being Google's boss isn't so shabby either.) The video of Eric Schmidt flashing his iPiece at the World Economic Forum was on Scobleizer a few days ago, but this here is the Cliffs Notes, the money shot, the "we fast-forwarded to the good parts for you" edit. So enjoy.

Eric Schmidt on YouTube showing off his iPhone [Scobleizer]