Has anyone enabled this in their IT Policy?
* Enable Enterprise Location Tracking

If so, what info does it give? I cannot find an example.
Currently the BB devices report back to BlackBerry Manager which wireless network they are on, which normally gives me a good idea as to where the user (or device) is. I am just wondering what info the setting above provides?

This will give you the GPS location coordinates for GPS devices which are OS v4.2.2 or higher. Careful enabling though, as by default it will give a notice to the user that they are being tracked. Probably OK in the US but I believe the EU laws are stricter on tracking so try with a test IT user first! ;)

The GPS info is collected every 15 minutes and stored in a table in the SQL db. More info can be had here:

BlackBerry Enterprise Server on Domino Discussion: GPS Reporting to BES Server in 4.1 SP3 IT Policy