My coworkers have been buzzing about CardMunch for a long time. They wrote about the app months before LinkedIn acquired it in January.
I didn't try CardMunch until yesterday. It's one of the few things I can honestly say I wish I had found sooner.
Cardmunch doesn't eliminate business cards altogether, but it keeps you from having to hoard (and lose) piles of them.
The app is simple. You take a picture of a business card and upload it to CardMunch. CardMunch has people type in the person's information and store it as a clean, mobile contact. It also keeps a photo of the original business card as a backup.