Private-I [iTunes link] is a $.99 application that may help you find the person who stole your iPhone, if that ever happened. This app will add a “PRIVATE” icon in red font on your springboard and it may provoke the thief to open it.

When launched, the app loads up a fake screen that says “Accessing Pictures” while actually locating you via GPS or triangulation and emailing you the location of your iPhone.

Brian at Wired says:

It seems like this app would be more useful for iPhone 3G owners who can get more precise coordinates using GPS. I just tested the app on my first-generation iPhone and received a Google Maps link that doesn’t tell me anything.

I’m not sure how worthy this app is but anything that could get your iPhone back is probably good.

[via Wired]