Your technical description is, as far as I understand it, perfectly correct. However, I was under the impression that the technology (introduced and described
here, 11th of June 2008) wasn't too interesting for higher end sensors since the larger pixel area, typically 10 times or so greater than the sensor in the iPhone 4, made the losses due to the reasons you described fairly small.
The sensor described in the Sony press release - 5MP, 1.75um squared et cetera bears a striking resemblance to the one used in the iPhone 4. Their commercial sensor products are described at Sony for the truly nerdy.