Good to know, I suppose, if you're worried about a spying spouse, but hard to care much -- the carriers are already tracking you anyway, after all. (And probably monitoring texts and phone calls, too (a la Carnivore). Or am I too cynical?)
By storing a user's data in an easily-accessible, unencrypted way the barriers are low enough that private investigators, stalkers, and other unsavory types have a similar level of access to someone's data, but with none of the legal hoops and hassles.
Look, it's so easy to conceive of situations where someone's well-being is seriously impacted by having this location data stored so sloppily that it's almost not worth arguing about. Almost! ;)