MemoryStick is one of those applications that wants to be the tool you use in a pinch to get yourself out of a tight situation. In theory, that is what MemoryStick does. Your state-of-the-art iPhone transforms itself into a mountable flash drive. So if you suddenly find yourself in need of a few gigabytes of storage space and have no thumb drive within reach, MemoryStick makes that emergency storage happen. In theory, that’s what it wants to do. And yeah, it tries really hard to meet up to its potential.