SoloStorm
There are a couple of young guys I keep running into at track days in northern Washington State that are developing an Android app for track days. It does an amazing array of things, but it's not released yet. It's more about vehicle dynamics, video and lap times and not about OBDII data logging though. I believe the guys are building it in the evenings, weekends and holidays and it's not remotely related to their day jobs at a large (really, really large) software company near Seattle.
This may be the app you are referring to.
http://www.petreldata.com/
However, I don't think it may qualify as "cheap" compared to other apps available. Mike, the developer, originally wanted to release the app for $200.

But before you write him off as KrAzY

, I will tell you that this program is MUCH better than the Trackmaster/Trackaroo app
for the specific purpose of autocrossing. I have used both and SoloStorm was
much easier to use. It also provided instant feedback.
It's great for run analysis in between runs. It lets you compare up to two runs - logging video, throttle position, RPM, speed, g-forces.
I found that Trackmaster may be better suited for track days/HPDEs. I also found that not having video and throttle position/rpm logged makes the app incomplete. Of course you can buy the Torque app (or get the free/lite version) but you will then find yourself having to get yet another app/software to combine all of that data. I ended up using RaceRender (free version) to combine video (GoPro/phone) + Torque (OBDII) data and Trackmaster (GPS) data.
Can it be done? Absolutely. But be prepared to put in some time to make a nice looking video where you can actually see all the data at once. That is something you will not be able to do at the event or in between runs. But it can be done for "cheap." You will still want to invest in a good Bluetooth GPS (QStarz BT-Q818XT or equivalent - at least 10 Hz ~ $100) because most phone's GPS only work at 1 Hz; and a Bluetooth OBDII reader (Cheapo eBay ~ $25 or a Kiwi ~ $100).
Maybe in the future Trackmaster will incorporate other needed components in the form of an update. That would be great. Maybe SoloStorm will be released at a price considerably lower than his initial price. Either way, you have options. YMVM