Find my Friends for iOS 5 and iCloud

During Apple's Let's talk iPhone event, Apple announced their new location sharing app, Family and Friends.

With Family and Friends, you can share you location with other iOS 5 users. You can set the sharing time to be temporary and the location sharing will stop automatically at the end of the day. It also comes with simple privacy controls and parental restrictions.

During the Keynote, Eddie Cue used an example of using Family and Friends while at Disneyland as a way to keep track of everyone in your group.

Who's excited to start stalking sharing your location? Anyone planning to use this as a method of keeping track of your kids?