In fact, the most popular downloaded application for the Palm is the Starbucks finder. Basically, you have to tell it where you are, and if you do that, it can find the nearest Starbucks. That is a very narrow vision of a location-based search. The next devices will know where you are and you can search for all kinds of things besides Starbucks. With context-sensitive searches, you will presumably have to state your intentions of wanting to find something and the way you interact with the application that finds the ATM need not be a Web page.
People are kind of stuck on the Web page notion because it has been so successful.
You don't necessarily want a whole transaction with pages going back and forth. There is a fundamental value to having information that is not from your service provider. In fact, the most compelling argument for this is the enterprise. Because the enterprise clearly isn't going to give important information to your service provider so you can get it via your phone, it is going to have to come directly from the enterprise itself. It is therefore outside the walled garden.