Used some data from our Sunday morning ride to Saffron Walden.
I've done a bit of investigation into using OSM data in my phone-based tracker. It looks quite feasible but I don't know whether it would be re-inventing the wheel and whether I have better things to do.
Something I could do relatively easy is make the tracker a tool for collecting GPS data for those that don't want to buy a full GPS device.
Instead they would buy a ~£25 bluetooth GPS. Those with phones such as the Nokia N95 with integrated GPS might use an experimental variant I am tinkering with that uses the phone's own GPS.
Have a look at this
http://tracking.axismilton.ltd.uk/tracker/
Jon