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Why on god's green earth would you store something valuable on something that would take one random bonehead move for you to lose it?

Because an iPhone is like a laptop. Personal information that I may need while I am out and about I want with me. I have seen/heard of people misplacing/losing laptops and phones. People that are so absent minded should probably not have personal info on their phones but I always keep my phone in my pants pocket and don't misplace or lose my phone.
 
I have a 32gb 3gs, and with that much storage available, I now save a lot of stuff on there, including stuff I wouldn't want people to see (yes, I'm aware of the lame security but I'm taking the risk). Plus, there are apps with saved credentials, not to mention saved logins for web sites.

I assume I'm not alone in this, so do you still let people "borrow" your phone, like to make a call, or browse the web? What's the etiquette now that phones can store so much, including very private info?

um are you talking about friends or just random people on the street?

of course i let my friends use it if they need it. hell no to random people.
 
Why on god's green earth would you store something valuable on something that would take one random bonehead move for you to lose it?

Because I'm not a bonehead. :)

My phone is always with me, so compared to my laptop it is LESS likely to be lost or stolen. It is a risk, though.
 
Family members like to use it vicariously through me. "Hey, I can't find place X... pull out your phone... where's the nearest restaurant... what's the phone number for... you can solve anything, you have an iPhone!"

I left it in my friend's car once and the next day she brought it back, her husband played with it all night and filled it with photos of RC helicopters...
 
Hell no, only my friends & family though. But strangers, no. But sometimes I don't. I usually receive nasty text messages from friends, and I don't want anyone seeing them, lol. :(
 
Of course I let people use my phone. If someone around me needs to make a quick call, by all means, I let them do it. I let my nieces use it as a camera/video recorder when they're bored. I didn't pay all that money to protect it so much to the point where I don't want anyone else even looking at it!
 
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