Nike may have bypassed Apple with its recently revealed SportBand
exercise device, but the pair are now back together again with another team effort, and they've enlisted the help of a number of gym equipment manufacturers as well. As you've no doubt surmised from that combination, that means they're working to make gym equipment (specifically cardio equipment) compatible with the Nike + iPod
system, which would let you plug your iPod nano (and only iPod nano) into a piece of equipment, track your workouts, and upload the data to the nikeplus.com website. According to Nike's own announcement, Life Fitness, Precor, Star Trac and Technogym are already on board and working on iPod-ready equipment, while participating gyms (including 24 Hour Fitness and Virgin Active Health Clubs) are supposedly set to starting rolling 'em out sometime this summer.