NO LONGER WORKS AS OF ANDROID 4.2+
Google decided to secure the setting this app modifies; only system apps can change it now. You should get an error if you try to install it on jelly bean or later.
Graphical interface to edit the AIRPLANE_MODE_RADIOS setting.
In theory, this would let you control exactly what gets turned off and what doesn't when you turn on airplane mode. Android defines cell, bluetooth, and wifi, and device manufacturers can probably use more if they want.
In practice, though, this setting is almost nothing like what the docs say. On the Motorola Droid 2, the only constant honored seems to be wifi. Bluetooth is always turned off, though I can manually turn it back on after airplane mode is engaged.
In general, you will just have to check and see what works. This tool is intended mainly for developer types who want to see how the value affects what their device does when switched to airplane mode. I can make no promises for how it will work from one device to another. (Just like with all of my apps.)
You have to go to the normal settings screen to actually toggle airplane mode. (Once I realized how little this value actually seems to control, it didn't seem worth it to build in actual airplane mode toggling.)
In general, I'll give the same disclaimer I usually do: Do not download this app, it probably won't work. Expect nothing and you won't be disappointed.