New app from lastminute.com labs shows you nearest restaurants, bars, pubs, clubs, cinemas, music, comedy etc. using the iPhone 3GS compass to direct you. Just downloaded it (link), and I'm well impressed. Really innovative use of the 3GS's technology. And it's free!
that link goes to something called "iBikeNrun" that seems to use the GPS to track your distance, speed, etc. and costs $1.99. I did a search for 'nru' and this is the only app that comes up.