iHound application comes to the rescue of your iPhone, if it is stolen or lost. The application uses Wi-fi and GPS that is built into it, to determine the location. You can track your phone around when the application is running. There are a bunch of alarms that go off on your iPhone. If anyone’s using it, and slides the slider to stop the alarm, the application will open up track the phone’s location. So you need to make sure that its running at all times.
What I really wonder, is that applications such as this one and the snoring application we saw the other day are pretty useless should your iPhone’s battery die