I wouldn't trust any mount with my iPhone. It's too valuable to risk destroying if it fell off or hit something in a spill. Don't you have a bar-mount bike computer?
However, on the same topic, what apps are other iPhone users finding useful for cycling? I downloaded MapMyRide but haven't actually used it yet because I'm afraid it will gobble up too much data (I'm on the basic 200 MB/month plan).
So far, the most useful cycling-related app for me is Lose It!, which tracks my daily calorie intake and exercise. I might actually succeed in losing weight for a change using this app. It is very well designed and easy to use. I've always heard that the best way to lose weight is to record everything you eat, but that is hard to do with just a notepad.