Here's the reply I got from the company that makes Runmeter, Walkmeter, 
Cyclemeter, and 5k Runmeter. Cyclemeter costs $4.99, and 5k Runmeter costs 
$0.99 right now. In fact, they seem to be exactly same app except name. 
icon, and default activity.

Hello,

Cyclemeter, Runmeter, 5K Runmeter, and Walkmeter, are all built from the 
same code foundation. the only difference beside the product name and 
application icon is that the default activity is set to Cycle, Run, our 5K 
plan, and Walk, respectively. If you do two or more activities, just choose 
the activity you do most prevalently, because all activities are fully 
supported by each product. We do not recommend that you purchase two or 
more of our products, unless you want to keep your data on these activities 
completely separate.
Regarding the pricing, each of the apps are in different markets. We wish 
we could sell all our apps at $4.99, but there are so many free and cheap 
running apps that we determined we to sell it for $2.99. (And 5K Runmeter 
is on sale right now because it's new. Get it while it's hot!)

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