Google Sync announced today that they support push technology for iPhone and iPod touch. The push technology sync your mails, calendars & contacts with your phone and Gmail account back and forth using Microsoft Exchange portal. To setup your account, make sure you get a back up of your iPhone follow the instructions. In case you installed the iPhone 3.1 OS software and your contacts did not appear right away, connect to a WiFi internet connection and iPhone will sync your data in a second. Push technology might increase your battery usage, you may choose to fetch the data in the interval of 30~60 minutes to save battery life.

Photo (courtesy of Google)
Update: It does not seem to be working on iPhone. I tried it several times but did not work properly.
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There are now so many devices and applications for iPhone... You never know what to choose