Seriously, this is a cool idea.
Would I use it... I don't know probably not until the video quality on the phones gets a little better/allow zoom while filming. Overall though, this is a seriously awesome idea. With the proper app built not only turn your phone into a range finder.. but the possible of using it as a range finder/sight... Pretty cool, but one problem that I could see is that if you remove the phone and put it back on... wouldn't it mess up the accuracy?
Now after reading through 10 pages of certain people flaming you, they should be ashamed of what they were saying. If you don't like the product... then don't try it... and until you do, there is no reason to bash this guy... There is no need to be that close minded.... heck that's what this country was built on, new ideas and entrepreneurs..