I'm only speculating, of course.
So, if two students can achieve even 30 meters accuracy in two days, big telecom corporations will certainly do better in a few decades.
EDIT: By the way, it wasn't only triangulation but also signal strength change analysis. It wasn't as serious as it sounds, there are formulas already made for calculating that.
In the US, E911 requires all phones to be able to report their physical location. Phone companies may use this ability to respond to police location requests. I don't know one way or another, but it seems likely.