Watchflag compares incoming email and text messages against custom rules to provide distinct alerts based on sender, subject and more.

This looks pretty sweet.  Watchflag is a Windows Mobile application that lets you set custom alerts and notifications on any of your incoming SMS and email messages, according to rules you setup.

Some of the things it will do include:

Play mp3 sounds depending on the sender
Light the display, vibrate and much more!
Assign different sounds to different email accounts

Watchflag is said to work with Windows Mobile 5 and 6 devices.  It is currently on sale for $15 (half its normal price). You can read up some more on it or grab a two-week trial download at:

http://www.watchflag.com/

Via: Mr. Mobile