I do not know if I am reading this wrong but this sounds like a shaft wrapped up as a gift. Unless the job is better/nicer/cushier in some way that would make a pay cut worthwhile, I would turn it down. Keep the job that pays more money, takes less work without as much responsibility. Let them want you. They already have you in their mind as someone who can do the job.
On another note, I have a phone attached to my hand and it is not always the most fun situation.