Yeah, it's called localbitcoins.com and Freenode #bitcoin-otc. The most popular way to exchange on localbitcoins.com is personal meeting with cash, when you hand it over, the other guy has a computer and hits "send" on his bitcoin client to your address. However, there are people who will do cash in mail, MoneyPaks, all kinds of things. What I fear is stings on those people, at least for large trades.