Dropping $41 million on the prelaunch of an iPhone app strikes this Yankee budgeter as a tad extravagant, but the folks at Color felt compelled to drop that kind of cash without my opinion.

So, as long as they’re buying, who says my interest isn’t for sale?

Alas, my buddies at ReadWriteWeb say this app is over my head, since I’m not a hardcore techie. Unless you define hardcore as someone who can search Google, link pages in a blog post and grin happily at her iPad.

But now that we’re living in a post-May 1 world (aka when Twitter broke the news of Bin Laden’s death), we entrepreneurs and journalists need to suck it up and start figuring this stuff out. You see, Color offers real-time, proximity-based photo sharing. The heart of what this social media world is about. The kind of tools that not only scooped CNN, CBS, ABC, NBC, Fox, PBS, and your local newspaper reporter, but threatened to leave them like road kill in the ditch.

RWW believes Color is the basis for analyzing research and data mining right in the field. The Telegraph in the UK used this as part of its Royal Wedding coverage.  (Can someone explain to me why we cap royal wedding?) On the other hand, more early adopters (defined as they downloaded this free app since April 1) give it 1 measly star. If it were a game, I’d save myself the trouble of erasing it from my iPhone.

But Knowledgewebb is about teaching us to drop our fear and start pushing those buttons. So I clicked on the “download” icon. I’m hoping soon I find a reason to take a picture on it.