I applaud the Milk folks in their first effort, but I must say if you've used Oink you would realize that: 1. it's not sticky 2. it's value proposition is relatively low

When it launched I played around with it for a few weeks before eventually uninstalling. Reason being, when you can check-in to places via FourSquare, recommend food/items you like from restaurants via Yelp, why would you use a system like Oink (especially when it has a smaller social-footprint than the aforementioned services)?

Maybe this app was awesome for you Bay area folks, but in NYC I never found much when I used the “find nearby” feature. Their interface was also inundated with too many data points as well (see there item detail screen).

I think the next wave of apps, now that we're experiencing check-in fatigue, is "passive utility" apps (Highlight, Sonar, etc). Their value can be ascertained with little friction (literally all you have to do is walk by someone) and there's tremendous room expansion on its core concept (dating based on shared interests, linkedin introductions based on shared contacts, etc.).