For example, this DIY USB charger uses a dynamo attached to the rear wheel to keep your devices charged. I say "devices," because this rig produces enough power to keep two devices running.
Additionally, this DIY waterproof iPhone cover is as brilliant as it is simple. Basically, it's at 20oz. soda bottle with the pouring end sawed off. It slips over the mounted iPhone with the open end facing the rider.
They also went on to list the gizmos you'll always want to bring with you while biking, including a GPS device, phone and camera. Fortunately, the iPhone is all three. There's more to the article, of course, and we suggest you read the whole thing. If you do trick out your bike like this, be sure to send us pictures!
That bike patent is about a year old, and big companies like Apple often patent ideas that will never see production. But hey, Nike+ was a surprise, too -- maybe we will be riding around one day on a two-wheeled Apple product.