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Everyone's got an iPhone app, even the Federal Communications Commission. Per Switched, the FCC has created its own FCC Broadband Test app [App Store, Free], which is designed to probe network latencies and download speeds on your home connection or mobile device.
The app, when finished, will furnish the FCC will useful data to show the discrepancy between advertised and real world broadband speeds, and will also serve as a way for users to directly compare network performance in particular areas.