iPhone 4 app, and one of the requirements is to place a big report
This isn't necessarily a UX problem. This is a software development problem--namely the use of arbitrary requirements that aren't meshed with actual use cases.
I'd step back and ask the stakeholders how they envision a user digesting this data on a mobile device.
But, to answer your question, as I do realize that even though a lot of the time the problems we fixed need to be fixed outside of UX, we're often the ones left with the ball in our court and we gotta do what we gotta do.
As such, I'd strip the table down. Have one set of key data, with each row then going to a more detailed view. Yes it means the interaction will be much more of a hub-and-spoke model, but that's sometimes the reality of dealing with tiny screens.