It’s a rotating iPhone stand. It looks far cooler than the standard dock so you could use it for that.
It would plus work as a movie watching stand. possibly just a good place to put your iPhone, possibly your wallet or ID placed below it, next to your door so you can
It holds the iPhone, and it rotates from vertical to horizontal, there isnt anything too terribly impressive about that. The company on the other hand disagrees with that previous statement since they are charging $40 for one of these.
Ivia http://www.pocket-lint.co.uk/news/news.phtml/10636/11660/PED3-rotating-stand-for-iPhone.phtml
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I just received my Ped3 today and was disppointed to realize that when turned sideways to view video, one of the prongs covers the speaker. Also, turning the unit upright for hands free conversation doesnt work as the speaker and microphone are both covered. Turning the iPhone around doesnt work either. In this position the charger inlet is covered on one side and one of the two prongs on the other side triggers the on/off button. Bad design, glad I didnt buy two as originally planned.