Waypoint Free has been posted to the Android Market. If you have an Android phone download and check it out. The free version will allow you to save up to three different locations. Each waypoint saved can be given a unique name that describes the waypoint. This application can be used to mark your house, work, or where you park your car. When a waypoint is selected it will show how far it is from your current location. A paid/ad supported version is coming that will allow an unlimited number of waypoints to be saved. Waypoint can also be used as a speedometer to display has fast you are going. Below are the screenshots.
Waypoint Free uses two additional programs you can download from the market, GPS Status and Radar to help you find your way back to the selected waypoint. GPS Status provides a compass and Radar provides a radar view to the selected location.
Waypoint Pro will be uploaded shortly.