"You see, with iOS 4.2, Apple is making one part of MobileMe available for free: Find My iPhone/iPad. Users will be able to sign up for a free MobileMe account for the first time in order to use the service, which works on iOS devices in the form of an app. However, those users signing up for free accounts will not be able to use the other MobileMe services without paying the regular $99-a-year price, we’ve confirmed with Apple.
Find My iPhone/iPad allows users to remotely find a missing or misplaced device by using location based services to locate it. You can send messages to it, tell it to make noises so you can find it in your home, remote lock it, or remote wipe it (if it is stolen)."
