After a simple mod making the Nike+iPod Sport Kit work with any other shoes, here’s a stripped version of the kit. Unfortunately, they do not explain what part functions what.

We’ve managed to crack open the unit that radios to the iPod to get an idea of how it works. After we’re done we’ll try to put it back together and see if the iPod will recognize it. It seems like Apple’s come up with a pretty slick way of quantifying your workout through the iPod.

More pics here.