As there’s no way for ordinary users to track the iPhone when it’s out of their possession, the Private-I application puts an icon on the home screen marked “PRIVATE” in big red letters. The hope is that the bugger who nicked your phone isn’t interested in wiping it and selling it on eBay, but is actually after all your private info and will be tricked into tapping the icon.
When the button is tapped, the iPhone tries to find its location using GPS and cell tower information, and then sends an email to the owner giving its best estimate of where the phone is. Presumably, the owner then has to run around the area looking for whoever is using the stolen iPhone.
Seems a bit hit-and-miss to me, but it only costs $1 so it might be worth a try. Alternatively, be a hell of a lot more careful about what you’re doing with your iPhone.
Sadly, the app isn’t yet available in the UK.