Wouldn't Mobile Defense do this? It tracks your phone using GPS, lets you lock it down and sound an alarm. All via the web.
Mike,
No, apps like Mobile Defense and Wave Secure provide different functionality. Very useful but different. To choose a "G-rated" scenario imagine you're having dinner with business competitors, a purely social occasion. One of your competitors asks to see your new phone. But your gmail account includes your firm's product schedule and other confidential information. Do you hand your phone to your competitor to examine or refuse to allow him to look at it?
Many corporations will not allow their employees to use a phone that receives confidential documents to avoid situations exactly like this. Your phone need not be stolen or lost for the information on it to be stolen.
Then, of course, there are the "R" and "X" rated scenarios where a user might not want the photos on his phone to be accessible by tapping "Gallery." I'll leave other scenarios to your imagination.