Transfer file between iPhones using Bluetooh
Yes. 

There's an AppStore app called Bluetooth Fileshare ($0.99), but it has very low reviews. Also, check out Bluetooth Photo Share (free) if you're only interested in transferring photos.

If you have a jailbroken iPhone, you can use iBlueNova ($5.99), but there might be better/free ways to do file transfer if you're already jailbroken.