Apple recently announced their latest service, Find My iPhone, on MobileMe in conjunction with the release of iPhone OS 3.0. Within a short span of time, we have got a nice story of how this person and his friends trace their phone down the streets with a laptop and Google Maps to locate his beloved iPhone. I will not spoil this story (BTW, it is real and not a marketing effort by Apple) here.
Click Here to Read the True Story of an iPhone Finder
BTW, during his find, he actually noticed a few issues with this Find My iPhone service.
(source)