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Posted this in the nexus 4 thread but thought you guys might enjoy it too.

Tasker:

I'm going to try to explain, but I only purchased it last night so I'm still pretty new at the whole Tasker thing myself, but the possibility is limitless. In a nutshell, it's a phone automation app that allows you to automate a lot of the functions of your phone. It has great support (albiet only one developer) and they recently updated to the Holo UI. You can probably replace a lot of the apps in your phone right now if you know how to set it up properly. To give you an example of how it could be used, these are some of the things I have set up:

-When my earphones are plugged in, my music application BeyondPod will start automatically and start playing music

-I have a profile set up to recognize the cell towers near my work. When I am at work, it turns on the wifi (turns off 3g). When I am not in range of my work cell towers, it turns off wifi and turns on 3g.

-When USB is plugged into my phone, screen dim delay is set to 5 minutes. Unplugged, back to 15 seconds

-GPS is turn on when Maps and Navi app is opened, toggled off when they are closed

-In the morning after my alarm is snoozed Reddit will automatically open and Beyondpod is opened+playing at the same time

There are way more functionalities that I haven't even been able to get into yet. I have read of some guy that takes the train from work everyday, and he would have to message his wife to pick him up. He set up Tasker to message his wife 10 minutes before he arrives at the station, along with which station he will arrive at (because he takes different routes). Crazy!

It's like a ... programming app with a user interface for your phone. Read up on it.

ShareKM demonstration - YouTube