Simantob was able to provide police with the address where the stolen phone was located. From there, he says:
so 4 police showed up at the door of this house and ended up getting mine and my dads iphones back along with my wallet and the Garmen GPS, they also were able to recover the two phones and wallet that was taken from the other car that was broken into. so thanks to mobileme we will all be getting our belongings back and a family of criminals will be put in jail.
That's a happy ending and a feature that sells itself. It also lets you wipe the phone remotely to remove personal data and display a custom message on the screen. Perhaps "Stop, thief!" would work.