Altec Lansing do tend to make quality-sound speakers for the price they are offering. Although I'd question whether it would work with the iPhone because of the connector size and position.
Found a Google cached page which may interest you:
here. It also seems that
The Gadgeteer confirms that it does work with an iPhone as essentially the unit is one big universal dock - if you get the right plastic cradle to fit the iPhone I wouldn't see why not.
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