Presselite, the company that earlier this week released an augmented reality application for the Paris Metro, has today released a London tube and bus iPhone application.
Using the application it is possible to find nearby points of interest, wi-fi zones and cafes on a Google Map. It is also possible to locate the nearest stations from your position on a Google Map within the application. Each station is represented by a red pin, a popup shows you the distance of localisation for each station, and it is updated live via GPS as you walk.
The eye-grabbing feature however is the augmented reality view that lets you find the nearest bus-stops and POI's. Unfortunately the presentation video (below) has some serious reflection problems but it is just about possible to see the augmented reality feature in action.