The cell phone belt clip is one of those things that I would love using, but hate seeing. It's definately the pocket protector of our generation. However, there is only so much room in my tight pants. As such I cannot wear a belt clip, but I wouldn't be against some clever person creating a belt-buckle wallet that would hold my metro car and not look like I should be picked up by the short bus.
UPDATE: Some asshole figured it out!