the future of social networking?

I was reading in Wired about dodgeball.com , which apprently is the future of social networking. It basically is a location-based service that texts to your friends and yourself about who is where. It seems like a damn nifty zervice to say the least. Of course, its only available in big cities like Boston, Chicago, LA, NY, Philadelphia, Portland, San Fran, Seattle and D.C., but if anyone is actually using it, let me know how it works out.