The new version also adds bookmarks, which will let you remember your favorite check-in spot -- while you can't add them from the mobile app yet, you can browse them from there, and they're hoping to get the functionality in soon.
Obviously, this might not appeal to everybody -- there are lots of iPhone users out there (including me) who aren't so keen yet on sharing their location with everyone they know every time they leave the house. But it is interesting to note that this is a burgeoning mini-industry, brought on almost completely by the ubiquity of the iPhone and its up-and-coming competitors. Any time you have more than a few apps vying for a growing audience, you're going to end up with some interesting innovation. It'll be fun to see what kinds of ideas Gowalla and its competitors can come up with.