I wonder how much it costs to make a bike GPS trackable. NYPD might not be willing to invest the time and money setting up bike stings but a third party could sell the equipment and, maybe, work with NYPD when the bike is stolen - not unlike that recent Apple iPhone case where stolen iPhones were tracked down by the phone's built in GPS device.

Apple now offers Mobile Me which can locate a specific iPhone. If they can do this for $200 cell phones then why not for bikes too?