Glympse Brings Real-Time Location Sharing To Facebook
techcrunch.com
techcrunch.com
I can see this being really handy when you're meeting someone, they can see in real time how far away you are.
I've been using it on my iphone, and the only annoying part is that it stops broadcasting your location when you close the app (obviosuly) - but that should be fixed in OS 4.0 when they allowed background location services.