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Sure thing. But on the other hand, I know that there are already apps out, that ring an alarm if you enter a certain radius to your goal destination. E.g. let's you sleep on the train until you are 5km close to your destination, no matter what the trains delay is ect.

So it was possible before iOS 5 and also was done by non-apple developers.

I'm not trying to diss OmniGroup, but I think that (as I said above) there's room for improvement and having Apple as a new player in the task-management-business is great news for customers and will most likely accelerate development speed all over in this area.