If you live or frequent London this new Application from PressElite will make your life a whole lot easier. London Bus v3.0 turns your iPhone into a comprehensive guide containing the most popular sights and attractions the city has to offer.  In the new version it is now possible to locate the nearest stations from your position on Google Map within the application, each station is represented by a red pin, a popup shows you the distance of localization for each station, and it's updated live via GPS as you walk in the streets of London!

One of the coolest and most notable improvements is the augmented reality integration that only iPhone 3GS will be able to use. This function allows you to see up to 1KM of the nearest points of interest including restaurants, stores, stations, and more! I sure could have used an app like this while living in downtown Toronto.  It seemed like there were always cool but hidden places to visit underground and tucked away inside buildings that were not viewable from the street. Checkout the video and photo gallery after the jump: