We'll get there...
It seems to be that location-based applications for mobiles are a "killer app". We might need to see a device like iPhone v2 to spur the market on.
There's obviously a use for "what's my nearest...", but also think of the potential for social networking combined with location... Your phone could tell you when a friend is nearby, or when you're close to a friend's house, or let you see places recommended by other people nearby etc etc...