iPhone 5 MobileMe Cloud Service: One Of Its Biggest Selling Points?

As the hype surrounding the forthcoming iPhone 5 increases, each day brings more speculation as to what it will look like, features internally and externally, release date and possible price. Currently, the handset is rumored to make its debut sometime in June, although news has come in today of CEO Steve Jobs and possible reports of his health deteriorating, so this might affect the iPhone5‘s arrival?

Putting this unfortunate news to one side, we have heard about the possible introduction of new hardware to the device, “MobileMe” cloud service which as Cnet via Cult of Mac stated, will be used primarily for live video streaming, location-based check ins using the same principle as Foursquare or Facebook Places, with geotagging locations with tags, information and photos, which will be named “Tokens.” Music and video steaming via iTunes allowing you to access your movies over air is also a possibly inclusion. In basic terms, you could compare it to Apple vs Facebook’s social networking site, well at least that’s what one would assume.

Electricpig.co.uk also stated, that the new service will allow you to change your settings to public or private, giving you the option to share your information on your homepage to all and sundry or just friends.

What are your thoughts on the rumored introduction of MobileMe on the iPhone 5? Is this a feature that scores highly on your must-haves?