That iClooly thing looks pretty cool - just like a tiny iMac. The name is kinda lame though.
The problem with a stand is that you have to carry it around. I usually use my iPhone to watch movies when I'm out-and-about waiting for lunch or whatever. Any time I'm somewhere where I'd have the stand, I likely have a computer also, and like the good Dr. Cabrera said, I'd rather watch on the computer
But, yes, my arms/hands do get tired if I'm watching the iPhone for very long. I usually just prop it up with something handy, like a laid-down salt shaker in front of the phone which is leaning against the napkin holder, for example. It's not ideal and sometimes, some of the screen is blocked, but lets not kid ourselves -- we're not looking for the ultimate HD experience on the iPhone to begin with, so even an imperfect viewing option serves to pass the time.