You should have no trouble finding a job that's both "IT" and "Web." I think most CIOs have successfully convinced themselves that everything needs to be web-based, because the web architecture is centralized, much like mainframes were.
As for the iPhone, I think more and more business types will start asking for IT to make crap to run there as well. Decision-makers (and even deciders) seem especially to like such things, which bodes well for its corporate adoption. The bigger the paycheck, the smaller the computer, right?
So, you can improve things within the broad field of "IT," although you still might not find the results sufficiently exciting. I did internal software development for 7 or 8 years right out of college and eventually walked away from it with an overwhelming sense of pointlessness. Eventually I reached the point where I was working with the tools I liked best back then (ASP and ASP.NET), but it still wasn't good enough for me. Just about every request that crossed my desk seemed to practically beg for a whiteboard, a legal pad, or perhaps even a to-the-point phone conversation (as opposed to a software project).
If you feel that way, then the best advice I can give you is to learn a language, tool, or architecture which is perceived as difficult and/or outmoded.
You could learn Ada, for example; you won't win any points with the hipsters down at the coffee shop, but you'll get the opportunity to work on important real-time stuff running in buildings those guys aren't even allowed to photograph.
Even C++ has become distasteful to most; learn C++ and you probably won't have to work on anyone's (for example) drag-and-drop Silverlight vacation scheduler. You'll be too busy doing Other, More Important Work (tm).
I had a (pretty damn good) C# programmer say something to me recently along the lines of "you can just go ahead and display that number [for debugging] in hexadecimal, since that's so much easier in C++." Of course that's BS (C++ can display numbers in any common base with ease) but I didn't set the guy straight. Let them think C++ is an intolerable briar patch...