
The iLIDmk1 is the first Kickstarter (and, as of this weekend, Kickstarted) project by a Darren Inglis and Simon Dunn-Vaughan, a couple of Aussies who were looking to reduce their "everyday carry"—despite the fact that their product is, indeed, yet another iPhone case, which would ostensibly add to the contents of your pockets (à la George Costanza).

The twist? The iLIDmk1 allows an otherwise overburdened fellow to shed the weight of his wallet: it's a hybrid iPhone case and wallet, which holds a couple pieces of plastic, some folded slips cotton and a small piece of metal—a.k.a. credit cards, cash and a key. In the interest of forgoing leather trifolds and keyrings, Darren and Simon have devised a polycarbonate iPhone case with a hinged compartment, measuring in at a mere 17mm thick and 30g.
Designed for a payload of two cards, key, cash and the ability to serve as a kickstand. The iLID-mk1 met with international interest after being featured in Macworld on the strength of rapid prototypes.Bearing the MK-1 embossed on the front as a nod to the Apollo missions and aerospace pioneers such as Chuck Yeager.
See the pitch in full on their Kickstarter page and pre-order one for $30.00 ($9.95 off the $39.95 MSRP at launch).
Still, I'm sure there are some people who have reservations about a sort of 2-in-1 solution for all of their valuables... any thoughts?

Comments
It'd really suck to lose your phone, keys and wallet in one fell swoop.
I agree with dannyid. I replace my phone all the time and it would be quite annoying to lose credit card at the same time...
One day soon this will be pointless, (oh wait it already is) phones will have CC info in them, if the iPhone got with it and had NFC then this would not be needed. Guess the iPhone is not as cutting edge as some other phones. Plus you are almost doubling the thickness of the phone to hold a credit card that is about 1mm in thickness? that does not make sense..It also looks like if you use it as a stand the card and key will fall out?
As someone who's never lost a phone, keys or wallet and like to hit the town with the lightest of bagage, I sure find the concept interesting! However it seems a bit limited: I need 2 keys to open my front door, one of which is longer than the iPhone's width, and I cannot do with less than 3 cards (ID, credit and transport)... if you start adding a bit of cash to that, it would make the item quite bulky.