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Yelp Me Facebook!
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Does Facebook simply need to break down and purchase Yelp in order to bring Facebook back to its localized roots? Perhaps, but their is also something to be said for them to remain largely separated as well.
Despite a number of other sites out there attempting to cater to local markets, it is clear to most people that there is still work to be done here. I say this as outside of Yelp, no one has heard of any alternatives unless they spend entirely too much time online.
For my money, the perfect match would be Facebook using a Yelp API, while doing a revenue share along the way to make it work everyone’s while. This might seem overly simple to some, but for most of us common end users, it would be a great match.