One of the first app's for the iPhone app store was AroundMe, and even after a year it's still one of the most useful and best thought out apps ever created for the platform.
AroundMe uses your current location to show you what is near by, so for instance if your in a city you don't know well and need a coffee shop or a cash machine fire up AroundMe and it will show you exactly where they all are.
I have lost count of the number of times I've been in London and needed a cab or had to get some more money, not only do you get a phone number and address but with one button click you can see all locations plotted on a map along with your location as well.
Tap the Share arrow and you can send the location to Twitter or plot a Route to your new destination, very handy if you need to switch a meeting point at the last minute. Around Me is free and can be downloaded from the iTunes App Store