This is good news, but it's important to remember that the way Coinbase works is for Coinbase to keep the private keys. A Coinbase "wallet" is really more like a Coinbase demand deposit account. That means you are trusting Coinbase to hold on to your bitcoins, thus losing one of the key benefits of bitcoin, which is that you hold your money. A better alternative is the Blockchain.info app, but from my understanding this is not available for un-jailbroken iPhones (please correct me if I'm wrong).