I recently purchased an iPhone and wondered where a convenient place would be to keep it while driving.
Incidently, I purchased a clear "skin" to protect it and it turns out that it was a good decision because now it fit's perfectly in the ashtray!

just a reminder, no texting while driving!

No worries there, its just too risky! But its nice to know when a text or email comes in to then have the iPhone handy, in order to decide if it warrants pulling over to answer.

it'd be nice if texts would pop up on the MMI

I use the ProClip mount and device holder. I have used them in all my cars for the past 5 years, always pleased.

http://www.proclipusa.com/

lol, nice place to put it! I wish they had another storage level instead of just a storage bin when you open the arm rest.

I usually pop it into the passenger cup holder (not going in the thermal cupholder) and run my charger out of the center arm rest. This allows me to keep most of the carger cable in the storage bin, and have pretty easy access to grab my phone when leaving the car. It would be really nice if they had a powered USB port with a little slide out drawer, as a segment of phones use USB connections as the charger these days.