Well both words mean almost the same thing. "Locate", meaning 'to find', and "seek", meaning 'to look for'. If the domain was 'LocationSeek.com' it would have much more value in my opinion. LocateSeek.com, to me, is almost like having "SearchFind.com". It's cool, but does it make sense? I'd say your domain as it is now is worth low $XX if not registration fee. With some development, though, you could add value to the name..
And what did you mean by 'Google killer'? A site that would compete with Google or something else?