It will take a holistic understanding of hardware, software and the user. Time will tell if the Apple model of making their chips in-house is the best strategy. But one thing is known - it helps them to get the best out of chips which would not be possible from an external vendor. This goes beyond talk to having a vision on business integration.
I think that location-based pinning and sharing is a really interesting trend we need to watch for.
While I do worry about privacy issues (do I really want to be known where I am?), I like foursquqre CEO's comment about making "people passively aware of what's going on around them." That may be useful.