CyDialer, a new paid app from Saurik (creator of Cydia) allows you to access and dial your favorite contacts right from your LockScreen with a coverflow like interface. As usual, this is a very smooth and well thought out app. He states that the beta testing was for a couple of months on friends phones and it seems to have paid off.
Installing from Cydia, the preferences are accessed from the settings app and you select from them just like Winterboard (another Saurik creation). When exiting, it resprings and you are presented with your favorites (from the phone app) on the lockscreen. You can choose to have your wallpaper showing and a click of the home button, the favorite are there, scrollable just like cover flow from iTunes. Or you can choose to have the contacts show and dismiss with a tap of the home button. Chances of pocket dialing have been minimized by having a 2 step process to actually make the call. Tap the favorite, then slide to dial. Nice and easy.
CyDialer uses the Cydget plugin. This will allow developers to expand the capabilities of the current LockScreen widgets. Replacing the Lock Widget feature from WinterBoard. Making for less memory usage and new possibilities. Of course all of this requires you to have a jailbroken iPhone. It is just one more great feature brought to you by the Jailbreaking community.