I have been involved in the competition for 3 years now and I think that by far this years applications were the most promising. The applications were solid and polished. Each of them looked ready to go to market and all of them included business plans.

Of particular note was a company out of California that produce a product called SpotJots. I'm testing out the product on my Nokia N95 now and it seems like it works really well. Most importantly the application is very fast and very clean. The design work on the site is great and simple. I'll post a full review of the site when I can.

Also another participant, Trapster , produced a user-generated speed trap application. The mobile device tracks its location and when a driver passes a speed-trap on the side of the road, they can trigger a message to the server. This uploads the speed trap to a central server and when any device approaches an existing trap it can send an alert out to the driver. Great idea. After meeting the founder, Pete Tenereillo, and going for a short drive I can attest that he probably created this app out of a personal need.

If you have some time follow-up with all the application that were displayed at the LBS Challenge. You can demo most of them by downloading the Where.com application to your phone. 2/3rds of the applications were run on this platform. I'm demoing the platform now and I'll send a posting out soon.