I use my Madison wristlet as a "tech case" to tote around iPhone accessories (earbuds, usb cord, charger adapter, cleaning cloth) as well as a couple flash drives.
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I use wristlets for going out with the gals. I tend to prefer the larger/longer wristlets so I can fit my phone, keys & camera.
I also put my cards & cash in the little pocket inside to keep it seperate from my phone/keys/camera.
I love them for going out with my friends - because it's SO annoying to bump into people who bring their big-ole ginormous Mary Poppins bags at bars/clubs. (Don't get me wrong, I love big bags and use them when going to and from work or shopping with friends, I just personally don't want my big bags in a smoky bar environment. It's also harder to use big bags in that type of environment b/c it is usually so crowded. I just don't want people bumping into my bag & smushing it, or it coming out smelling like a cigarette)
I also like to take wristlets on quick trips out - like to the grocery store or to run quick errands. I esp. like them for grocery shopping because I don't have to carry a big bag around, it doesn't get in my way, and I don't have to put it on the yucky grocery carts since it's so small.