That's a great point. Although I trust the guy who runs it (it's a small project run by an independent iPhone hacker/developer), there's no question that a ser

That's a great point. Although I trust the guy who runs it (it's a small project run by an independent iPhone hacker/developer), there's no question that a service run by Apple is more trustworthy. From my view, however, the cost/benefit analysis strongly favors installing the app. Benefit: It has saved me $500 once already. Cost: 14€ + (chance that the data on my phone will be used maliciously) * (average amount of financial damage that would be done in one of these instances). But in my opinion, the "Find my iPhone" feature of MobileMe is not comprehensive enough. For example, it should still work if the SIM card is swapped. It should work even if the only available connection is Wi-Fi (such as being indoors) and should report back to the user the name of the hotspot. It should work if the OS is wiped/reinstalled. iLocalis doesn't do all of these things, but it's much closer.