This concept marries the modern touchscreen with the old iPod clickwheel. It would be the best of both of worlds, at least for those of us who like to skip songs without looking.
The OREO shape would make for a neat way to store earbuds too, almost like a yo-yo. Who doesn’t wrap their earbuds around their iPod?
This would be small enough to clip onto a wristband or a lapel.
Dave's Geeky Ideas 
this seems pretty cool. i like the headphone storage thing!
So very true…. so few corded items have a cord storage option.
I wouldn’t mind a lapel pin/tie-tack type of post to affix to clothing… or maybe a clip narrow enough to fit thru a buttonhole. Or a nub the size of a standard button
The thing I have the most problem with though, is the weird shape the earbud wire gets after a while, starts brushing my chubby cheeks when turning my head. That is REALLY irritating. the only solution so far has been looping them outward with enough slack and tying them to my collar stays, or, on shirts lacking a collar, taping the cord to the shirt at the shoulders to keep slack in the line from the cord ‘adjoin’ to the buds.
I really hope the Bluetooth headsets start to come down in price RSN.
Regards,
-Electro-
aka The Other David