You can share the phone's internet connection over WiFi. Fluxist originally came up with the hack, then TalynOne and Chainfire refined/automated it. Chainfire's app allows for one touch internet sharing over wifi. I think there is a thread about it somewhere in the Mogul forum, or you can see the full discussion at XDA:
http://forum.xda-developers.com/showthread.php?t=341398
I'm not sure if this is what you are asking about, but I use it all the time and love it. Instant portable WiFi hotspot. And virtually anything that supports wifi can now have mobile access (ipod touch, nintendo ds, web tablets, etc.)