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It isn't just the iPhone which has Facebook Places now; the BlackBerry has it too. BlackBerry devices are now the second most used mobile device to access the site from (from the application, not necessarily the mobile web) so it makes sense for Facebook to capitalise upon this huge demographic of people.
With Places, you can attach your GPS or A/GPS (network assisted for power saving) location to a map, which is done automatically, type what you are doing there and allow others to see where you are, what you are doing and who you are with.
For some it is a scary thought, but for others it is perfect for their social needs. This gallery explores the checking-in process for the Facebook Places for BlackBerry update.