While I'm turning into a big believer about location-based capabilities in mobile phones (GPS, maps etc), I'm much less convinced by the argument for monetisable location services.
I can quite imagine buying a Nokia device which comes with 4GB of global maps built in, plus GPS. I can quite imagine continuing to use Google Maps on mobile, with its clever autolocation capability.
But I can't imagine ever wanting "local search", or paying for "where is my nearest X", or trusting any "local" restaurant reviews where the venue has had to pay to be included in a directory. Possibly there may be some geo-specific advertising (step forward Google again), but in terms of actually getting money out of my own pocket for a billable service? No.
Nevertheless, there's a number of very good articles and different opinions courtest of this week's Carnival of the Mobilists, edited this week by Rudy de Waele. (It also references my post from last week about applications on smartphones).