It seems that Apple disables the use of the serial codes found in blu-ray purchases for digital copy transfers when it's not time for the movie street date release.  I get the error code below when trying to transfer TFK movie to my iPhone. However, redeeming the code through Windows Media works.

UPDATE: I WAS RIGHT ABOUT THIS. I TRIED TO REDEEM THE CODE TODAY (9/9/2008) DAY OF TFK RELEASE DATE, AND IT WORKED. I NOW CAN WATCH THIS MOVIE ON THE IPHONE.