Google Talk location status (beta) lets you share your Latitude location with all your Gmail chat and Google Talk contacts. It will automatically update your status message to your current city as you move, and anyone who can chat with you will be able to see this location status

i could see google monetizing this now, when you're googling shoes in your immediate vicinity, the ads will read: "walk 2 blocks to barneys that have a pair of size 11 ferragamos in stock."