By comparison with the $20 Ease-Fit and $40 Sports Armband, there’s no question that $80 is a lot to spend on an iPhone armband, and apart from submersible waterproof versions, we can’t recall any competitor even coming close in the past. Sportwrap LED tries to justify its asking price with a novel feature or two that may be worth the extra dollars for some people. Like the others in this category, the accessory straps around your bicep,…