Joining the collection of armbands rolling in for the iPhone 5 is Incase's latest Sports Armband ($40). Slightly higher priced than some rivals, the construction and materials are typically Incase, and nice. The setup is pretty standard: a pocket holds the phone with a touch-through plastic cover and a Velcro-equipped adjustable band. Sports Armband includes a flap to hold the iPhone in place once it's inserted through the top slot, and reflective…