can the iPhone bluetooth connect and receive/transfer content to other phones?

No, transferring that type of bluetooth is not available for iPhones. I believe though, you can connect to a car's bluetooth for calling though. I recently had an iPhone, absolutely loved it!, and then sadly broke it ):
I think it's because apple wants you to buy everything ?It seems that way, but I'm not exactly sure.
Good luck.

Nope you can't the iPhone has outdated bluetooth, it's only good for stereo headsets. You can't send or receive data using. You'll have to connect to his pc using a USB data cable, and sync using iTunes or something.