Although the CD player is currently only available for the UX-VJ5 model, the UX-VJ3 features similar specs, minus the CD player of course, and both are said to be able to accommodate an iPad and an iPhone/iPod. Both devices are also said to feature Video Out, PC In, Audio In, an FM/AM Radio tuner, a 2x15W out put, as well as a USB port on the UX-VJ5, that is supposed to let you rip your CDs into MP3 format and then transferred to an external USB device, such as a flash drive or external hard disk.
We're not sure why anyone would need to dock an iPad and an iPhone/iPod at the same time. We're also guessing that when docked it would allow the device to charge, so perhaps it's just a convenient solution to charge two devices simultaneously. Other than that, we'll admit that they do look pretty sleek.
source: Ubergizmo