According to De Telegraaf, a 49 year-old Rotterdam contractor was shot at and an iPhone in his pocket may have helped stop the bullet from hitting his heart. According to my limited Dutch language skills and Google's translation, "The bullet went straight through my phone back and then only in my chest. My cell phone worked as a brake job and probably was adjusted so that no serious damage was done." In the picture shown attached to the story, it appears the bullet had to travel through the glass of his van as well, which certainly also helped slow the velocity of the bullet before it hit the iPhone.
Back in 2007 we wrote up a story about a soldier in Iraq who had a bullet hit his iPod, saving his life. Oh, his body armor helped as well. Remember, it's important to slow the velocity of a bullet down when protecting the body, so anything between you and a high velocity slug of lead is a good thing. And although body armor is pricey, it's still cheaper per square inch than covering yourself in iPhones.
Thanks to Ronald Detiger for sending this in!