Well, I found some generic armbands on ebay that were designed for larger PDAs/blackberries. They are cheap and I'm going to try one of them. I have no interest in one with an open face. I don't want to advertise to the world I'm running around with a $300 smartphone. I live in a decent area, but still prefer to be on the cautious side.
I will post an update with my thoughts once I receive it.