I love my Apple kit and the iPod is no exception. In my collection of iPods, I have an original Shuffle, 2nd gen Shuffle, iPod Video, classic, 3rd gen Nano and a touch. I am not greedy, some of these have been handed down to my kids. When I take my iPod out for a run (couple with the Nike+ iPod kit) it is essential that I leave my hands free. My fave to date is taking the Nano out, as it is small and light.
However, I picked up one of these in a charity shop, brand new for £2 and went out the other day with the much larger iPod Video. It is also worth noting that the iPod classic also fits in here. The armband fits nice and snug around the arm, with no rubbing. The front is see-thru and protect the iPod screen adequately. Jogging with it was pretty comfortable and the Griffin Tempo does its job well. My only problem was that it is easy to feel the extra weight of the iPod Video. This is not the fault of the Tempo, but it makes me question if jogging aides for the larger iPods are really appropriate or a good thing to buy.
At £2 it was worth it, but if I paid more than I tenner then I would be a little cheesed off.