At the time it came up, (Drudge also carried the story), the Official Line was that 'nobody used the data' and that 'nobody, but nobody,' could import the data from individual phones.
...iPhone and Google Inc. (GOOG)’s Android smartphones transmit location data from the handsets back to the companies, the Wall Street Journal reported, citing documents seen by the newspaper.
Apple “intermittently” collects information about iPhone users’ whereabouts, transmitting the data back to itself every 12 hours, the Journal reported, citing a letter it said the company sent to U.S. lawmakers last year.Google’s Android phones send location data to the company several times an hour as well as information about local Wi-Fi networks and a code identifying the particular handset, according to the report.
The first question: why did Apple 'send a letter to US lawmakers last year' about this feature?
The next question: who else can obtain and utilize the information?
Good news: if your phone is stolen, it can be found. If you're in an accident and disabled, you can be found. If you let your kid use the phone, he/she can be found (or tracked.)
Bad news: Other folks, some not your friends, can find you, too.