Version 3.4 adds the Value Range Search feature. The new code was contributed by Florian Shießl (thanks Florian) and lets you perform a value range search in a chosen numeric field.
An application suggested by Florian is a simple proximity search based on zip/postal code values. If your chosen field contains a numeric zip/postal code, you can perform a search for a range of zip codes containing yours, and you’ll get a list of BuddyPress members with a zip code numerically close to yours.
Of course you can find many more applications. Enjoy!