I've used the widget a lot since I got my N900, a lot more than the maps app. The darn Ovi maps takes forever to load, and sometimes it just refuses to cooperate - not closing properly, having to kill it, leaves GPS on, stuff like that.

The location widget is mighty useful in two scenarios:

a) Knowing where you are thus where you parked. Also, when lost, you can call someone and give location. ("Near a large gray building" gets me sighs)

b) You know the street, you know the target but don't know which way. So, fire it up, walk a little and see the red dots telling you it's the wrong way. This is invaluable in intersections or after emerging from the subway when your orientation is lost.

If it had tags it would be perfect. Nothing fancy, just a tag button making it TAG and then always display the arrow towards the tag, or a line linking them so you can backtrack. Instant car finder. Instant get-out-of-little-street-maze. Man.