What I'm looking for in a rank tracking tool is that it is usefull for local search and that it has notifications.

Serpwatch has that both and is very usefull to me. Ofcourse there is some room for improvement:
- Would have a better overview if there was a column for location so that you can see easily the results per city
- You can track local results (by city) but search engine and location can only be set project wide. So if for example you want to track local results for keywords like "hotel", "hotel new york" and "Hotel Washington". You get the local results for "Hotel New york" in the city of Washington too even if you don't need that. It clutters the overview.
- Notificatons are nice to have. It would be better if they would enhance this to accomodate top 10 results. To clarify this. A position swing of 40 positions seems important. But how much traffic do you get from position 60 versus 100? And a drop of 2 postions doesn't seem that important but if I'm dropping from 3 to 5 than that has some impact.

Anyway, it is a really usefull rank tracking tool and in my opinion the number of keyword checks it pretty nice. With one deal you can check 150 keywords daily. Buy it now before you regret that this deal is over.