Aside from having a cool name, German company Foolography has an interesting geotagging solution that takes advantage of the GPS connector on Nikon cameras. Its Unleashed is a tiny Bluetooth receiver that works with any Bluetooth-compatible GPS receiver to directly insert the location coordinates into the EXIF header of the digital camera files.
Nikon has its own solution, the GP-1, but it's a bit bulkier and ties you into its GPS device. Though the Unleashed will be more expensive--250 euros, or about $315 using today's exchange rate--it offers the flexibility of using any quality of GPS device you want or can afford. The company also plans to support remote shutter release via the Bluetooth receiver and an optional remote release connector.
One of the drawbacks of direct GPS support in digital cameras is the performance overhead of connecting to the satellite; it can really bog you down if it can't find a signal. Unleashed will automatically use the last locked coordinates if it can't attain a lock.
When it ships in the spring, this version of the product will work with the D200, D300, D700, D2X, D2Xs, D2Hs, D3, D3X, and Fujifilm S5 Pro (it uses a Nikon body). The company is also working on an Unleashed D90 and Unleashed Pro; the latter will include an electronic compass that can record the direction you're pointing as well as location coordinates. Canon support is currently just a gleam in the company's eye.