So, finally someone made a proper GPS application, turning your iPhone 3G into a GPS receiver with features similar to e.g. a Garmin geko series.
It features a customizable dashboard as well as track and waypoint recording. The data collected can be sent via email. There's no word about the data formats used, but the description suggests that it might be in Google Earth kml/kmz format.
What it still lacks is a compass/waypoint goto screen and the ability to use routes. The latter might be missing because of the SDK agreements, but a compass screen that virtually all GPS units feature would be really really nice ;)
All you can get on the homepage is a video that gives you a hard time trying not to get seasick while watching. The application is priced 9,99 US$
I'm really glad to see that there is not just another "Here I am" or just another "Speedometer" pointless app... Good work, Garafa, keep it up!!!