Porker is correct. The accuracy of location is not great but it was good enough to nail at least one major criminal. The police had to swarm all over the place looking for the missing phone but they got it in the end.
Could your phone's location (not yours) be tracked in the past? That rather depends on the phone company and how long their computer retains the data. From a phone network point of view it's only the present location that matters so why clog your computer's memory with obsolete data. If the police wanted to track all future movements of a particular mobile phone then I've no doubt they could do it - but I'd like to think they'd need a court order first!
Could your phone's location (not yours) be tracked in the past? That rather depends on the phone company and how long their computer retains the data. From a phone network point of view it's only the present location that matters so why clog your computer's memory with obsolete data. If the police wanted to track all future movements of a particular mobile phone then I've no doubt they could do it - but I'd like to think they'd need a court order first!