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That's one of those cool ideas that just isn't worth it, even for a very minimal amount of power drain.

If I have this info on the unlock screen then I'm fine. If I'm already looking at the screen, how hard is it to push the home button once? I don't even have to swipe.
 
I wish they would improve the "lock" screen like many 3rd party jailbroken apps have.
 
Gotta love how Apple innovates in ways like this... yet won't give us Flash, MMS, or Copy Paste. Or those damn in ear headphones!
 
I guess those typical indicator/blinking lights are just ... too obvious a solution?

I've often thought it would be neat to have the external LED indicator lights on the iPhone. I get the impression this solution is comparable and quite classy. I think it would look pretty cool to have some LED lights showing right through the dark screen.
 
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