ad geotargeting in a geode world

Anyone know whether any of the main advertising networks support (very) location specific advertising ? with the advent of Geode and GPS/mobile devices in general, there’s an obvious opportunity to make ads altogether more personal (useful/value for money/profitable) than they currently are.
Google claims to geotarget but I’ve not seen it do anything other than [...]

the Beresford

so.. there I was walking past the beresford and after a few hundred thousand dollars and more years than I can count it’s actually open again (avid readers will remember the Absolut Cut night, but that surely doesn’t count). Anyway.. it’s open, it looks fresh, and I’m keen to head, what, tomorrow night?