I've had both versions - GT Ultimate with the older version of the sat nav and newer Black Edition with the Connect Premium. As far as I know, manual control of the Ipod itself was the only option with the earlier version. There was no USB connection under the arm rest in the 09 car, just analogue. You connected to the Ipod via its earphone jack. Worked perfectly well, except there was no way to select tracks etc on the sat nav screen, as you can with the Connect Premium.
I'm a bit unclear from your first post whether you've actually bought a 370 yet or just identified one you want to buy. If the latter I'd recommend considering one with Connect Premium. Having lived with both, I'd say it's a worthwhile upgrade .