I think it is a nice little feature. Only I suggest that the program would be loaded automatically when the iPhone or iPod Touch is turned on and executed in the background as a service that cannot be removed. Maybee the Dev Team can implement the feature as part of the unlock/jailbreak procedure in QuickPwn :-)
It is worth it, but it is only useful if you do not have a pin code on your phone and the person who found it have access to the device in order to launch the app. everyone set a pin in order not to allow your personal data in the wrong hands.
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