Is there any reason to get the Nike + sensor if I have an iPhone?

I recently purchased a pair of Nike running shoes that have a spot for the Nike + sensor and I've always just used the Nike running app on my iPhone when I run so is there anything the sensor could do that the app couldn't? I figured probably better tracking of elevation (I run in a really hilly area), but other than that I wasn't sure if it was worth looking into.

If you get the sensor, the app will track your mileage indoors, on treadmills, in big cities where the buildings block GPS, and in the forest where GPS reception is poor. It will also provide you with better instantaneous pace info. Not sure about improving accuracy in hilly areas, tho.

No reason whatsoever except to pad the Nike bigwigs' pockets some more.

Edit: the Nike App works perfectly fine inside on the treadmill. I repeat, you will be padding their pockets for no reason. I use the app on my treadmill all the time on a Droid 4 and my daughter uses it on treadmill on her iPhone.

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