Just a warning -- Mobile Magic is only for Verizon and it hasn't been released yet for iPhone. Unless something has changed very recently.
I like Lines, which is the Unofficial Guide to WDW App. I think it works similar to Mobile Magic. It has updated wait times (from other App users in the parks as well as Lines software). There's also a chat on there that I'm addicted to reading. Haven't used it yet, but reviews are good.