Easier way to write iPhone apps

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Have you guys heard of Corona for the iPhone? Its an SDK that lets you write apps in Lua. Was wondering if you guys had tried it. Have been poking around on various forums to get people's opinions. It appears to be in beta but it looks promising.

I guess I don't have enough posts yet to be able to post a link... the company name is Ansca, just google Ansca Mobile. Its the first hit.

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Just wanted to let you guys know that they released a new version that has device builds from within the simulator. Just drop your built app into itunes/xcode and install on your device.