OK, I did this as an experiment (also because I wanted to know for myself). I already knew that 1 minute of hand cranking gave me about 5-10 minutes of radio (maybe longer).
I used my (relatively beat up) iPhone 3GS. I drained the battery of the radio first (played the radio). Then I drained my iPhone battery (I figured this was a reasonable estimation of where one would start when wanting to charge something). Then I hand cranked the radio for 5 minutes. Plugged in the iPhone. Did not register at all (usually it shows the little red empty battery with an indication that it is charging when plugging it in after draining). I hand cranked for 5 more minutes, rested, then another 5 minutes. Still nothing after a total of 15 minutes of hand cranking (at least nothing but sore wrists). I then sat it directly under an Ott light for 2 hours. Still nothing.
Note that for the bigger radio, it even says in the literature (as I recall) that to charge phones, etc., it is better to use batteries in it (the big one takes batteries, the little one doesn't). I think the literature for both of these says how much cranking/sun is needed for how much radio time, etc., but I can't put my hands on it right now to confirm.
I would say that the primary usefulness for this is as a radio that can be easily run off of human power if necessary (or solar). As a charger, at least for the iPhone, well, similar to the other reviews, etc., it looks like it does a pretty terrible job…