On my phone (android) I can have several bluetooth devices connected at a time. At least, I can sync my fitbit while streaming music to speakers and sending pictures to my computer, that sort of thing.

However, I concur with Oakleaf that a HR strap is the way to go. The newer ones aren't that uncomfortable, although I am glad to take it off the same way I'm glad to take off my bra at the end of the workout.

Definitely go with an older model for now. I bought my past computers on ebay. You could also try craigslist, or a lot of places like clever training and heart rate monitors usa have discount codes you can use.