Either way, I have successfully set up both POP and IMAP accounts on my iPhone using these settings:

-- incoming mail server
    -- host name: mail.hyd.com
    -- user name: youremail@hyd.com
    -- password: your password

-- outgoing mail server
    -- host name: mail.hyd.com
    -- user name: youremail@hyd.com
    -- password: your password

-- authentication: password

-- use SSL: ON

On the advanced settings page, you can map where to keep 'drafts', 'sent', and 'deleted' e-mails.  For IMAP, you'll have to keep them on the server. Whereas, for POP, you can keep them on the phone or on the server.