Magellan’s new iPhone navigation app won’t do much for the iPod touch on its own, but it looks like the company’s forthcoming Premium Car Kit will in fact work just fine with the handheld out of the box, unlike TomTom’s similar Car Kit. Otherwise, there aren’t exactly a ton of surprises, but the cradle is fully adjustable to accommodate a range of sleeves or cases, and it’ll of course also charge your iPhone or iPod touch, and give it some amplified sound courtesy of the built-in speaker. The navigation app itself also seems to be more than ready to challenge the competition, with it boasting spoken street names, NAVTEQ maps, 3D landmarks, in-app music control, a pedestrian mode, and a price tag of $79.99. No word on a price or release date for the cradle just yet, but Magellan says it is “coming soon” — iPhone users can get the app from the App Store right now.

[Thanks, djphatjive]