There is one area where multi-touch is definitely useful, and that is emulating the multiple buttons needed in game emulation, especially on today’s hardware button deficient devices.
Blutz on XDA-Developers have been working on getting the Morphgear game emulator to work better on the HTC HD2, and has recently added real multi-touch to the mix, and it certainly looks like its working pretty well.
Read more about this feat at XDA-Developers here.
