The most recent update of iPhoto to version 8.0.2 included a couple of new features around the Faces functionality for identifying people in photos. Apple, however, was kind enough to throw in another feature; one which I was hoping would show up from the day iPhoto '09 was announced.
It is now possible to copy geodata from one photo and paste it into another photo. While this feature might sound useless at first glance, the reality is that it can be very applicable. Consider this: you have a tried-and-true digital camera that you've had for years. Along comes iPhoto '09 and it's fancy-schmancy geotagging chops make you feel old and outdated. Well, fear not dear friends, your trusty iPhone 3G has GPS built right in.
The process goes like this: wherever you are out taking pictures, snap an additional photo using your iPhone 3G then copy the geodata from the iPhone picture to all of your other pictures taken at the same locale. This process will work with any photo that has location information, not just an iPhone 3G's photos.
To do this, select the photo with the geotag information that you took with your iPhone 3G. Right-click (or command-click) the photo and choose "Copy." Next, select the photo(s) that are missing said geotag information and right-/command-click the photos then choose "Paste Location."
Now, you too can take part in all of the GPS-y goodness of those new-fangled cameras without having to buy any new gear.