Now I find this idea very cool, being a cyclist and all. Now I have been waiting sometime for something like this to happen. Since the introduction of the Nike Shoe + iPod counter for runners, it was a matter of time that they would integrate the needs of cyclists. Now there are currently apps readily available on the iPhone for cyclists like MapMyRide, one of which I currently use to track my distance and route that I do when riding but it lacks the other information that my Knog NERD Computer does.
images from google.
Now having my iPhone do the jobs for both tracking my route and speed, cadence etc., well thats what I am looking for. So hopefully this being in the works, an app and hardware for such an idea should be hitting the market soon. This will make things a lot easier for us cyclist carrying extra stuff just to get this information. Also with the iPhone, if you were to ever get lost GoogleMaps is there to save the day.
To read the article, you can find it here on Engadget.