Most likely.
Multitasking is disabled by default to prevent apps from spawning a bunch of processes and either slowing down the iPhone or doing malicious things.
The iPhones CPU really isn't that fast, but by only running 1 program at a time, it seems speedy. Multitasking would introduce a lot of overhead and other problems which would slow down the iPhone.
I'm not actually sure about multithreading, but since threads are contained to your own process, it seems likely that they would work.
And as you said, pthreads work and fork() doesn't, so its logical it would work on the real one as well.