Just worked on my 4s. Enter the number you want to call then repeatedly hit the green call button. After 10 clicks or so it freezes and resets. During the reset the call is connected.You can't dial any additional numbers after it's connected and to Hangup you need a pass code or you have to turn the phone off.
The nano is not super cheap. You can go to any electronics store sand by a small MP3 player for under $10. The nano is simple & small. It does cost a lot less than the touch, but it is moderately priced as an MP3 player.
Not sure what your link has to do with the post you responded to. I will point out that that story was based on speculation (and blatant market manipulation) and has been contradicted since CT released their rate card...
Lack of transparency about pre-order numbers? Do they ever downgrade every other phone manufacturer in the world for the same thing? It is hard to imagine analysts can get more ridiculous, but I bet they can.