Iran has released via Press TV its own video footage of the incident, showing that it was a regular contact between the Guards and the US Navy.
"Seit 5.45 Uhr wird zurückgeschossen..."
Also see, Bush Castigates Iran, Calling Naval Confrontation ‘Provocative Act’.
Iran Accuses U.S. of Faking Persian Gulf Video
The audio includes a heavily accented voice warning in English that the Navy warships would explode. However, the recording carries no ambient noise — the sounds of a motor, the sea or wind — that would be expected if the broadcast had been made from one of the five small boats that sped around the three-ship American convoy.