First, I have never seen a wireless FM modulator that worked good. Living in Los Angeles, there just aren't any frequencies open that are far from other radio station frequencies.
Second, Aren't there already a ton of wireless FM transmitters out there that will hook up to the Droid?
Third, you still need to access your Droid to change music (skip track either on your own mp3 files or Pandora, Slacker, etc.). The whole point of these things is to free you from having to touch your phone.
Fourth, does this have a mic so you can use it to make or take calls?
The
Venturi Mini has been around for a long time and works very well with the Droid. It hooks up via Bluetooth to the Droid. Just plugs into the cig lighter of your car. You can change tracks with it, take/make calls, and stores your phone book. Hooks up to your car stereo with either wireless FM modulator (which I hate) or also has aux out. It also has an aux input just in case your friend gets into the car with their iPod. The street price is much less than this unit.
I really don't get the hype behind this unit. Why is this such big news? Personally, I use the Alpine ex-10 and love it. Does a ton more and costs a lot less. I've posted this numerous times before, but here is my YouTube video of it again:
[video=youtube;UjfrxJrtgj4]http://www.youtube.com/watch?v=UjfrxJrtgj4"]My YouTube Video of the Alpine EX-10 Bluetooth adapter working on my Honda's factory stereo.[/video]
Schoche also has some nice stuff.
Parrot also makes some nice stuff that is car specific. I've never tried any of them, but they are very expensive.