Do you actually use Latitude, other than just for the novelty of it? Is so, there is a "substitute" component being added to Google+ soon to replace it.
This is no different than a host of other Google products, like iGoogle (which I LOVED, and will miss dearly come November), Talk, Reader, Health, Knol, Picnik, Buzz, Aardvark, Sidewiki, Notebook, Dictionary, Labs, Wave, Searchwiki, Dodgeball, Jaiku, Lively, Answers, Page Creator, Zeitgeist, etc., etc., etc.
At least they try stuff, way more than the stagnant behemoths like Microsoft, some of it fails, and some of it works. Microsoft has had some decent services with potential that dies, look at Docs.com, the Surface tablet, Mediaroom, Kin Studio, or Courier.
I would rather stick with Google, at least their solutions are mostly open standards and developer friendly.