The magazine reports (via Andriasang) that the iPhone version will have undergone significant re-remaking when it's released in Japan next month. The graphics will be in high resolution, the sound will be updated, and the monster viewer will be reformatted for ease of use. No images of the new version are available yet; however, with the magazine issue out today, we can expect to see official screenshots on Famitsu.com within a couple of days.
This makes the iPhone, in our opinion, the weirdest place for Final Fantasy games, since it houses Final Fantasy I and II, which are based on the PSP versions, and soon the DS-originated Final Fantasy III. If you just downloaded them all from the App Store without knowing any of the history, you'd be baffled as to why they looked so different.
Update: A post on the European Square Enix Members site reveals that FF3 is due on the App Store in Europe this March, as well.