From the Toys section:

iPhone Screenshot 2iPhone Screenshot 5

For a limited time, the Nike+ GPS App (iTunes) has gone free.  Normally priced at $1.99 , this run tracker records your route, pace, and distance, as well as providing feedback.  *Obviously, the GPS features of this app do not work with the iPod touch.

More screenshots below:

iPhone Screenshot 1

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Seth Weintraub's favorite gear