The service will send you a new message twice a month filled with photos from a year ago during the same time period. They're not just any old pictures either, time capsule will only pick the ones with the most interestingness. Each one gets links to share or view the original.
To get it set up, simply link up your Flickr account, and give it an e-mail address where you want to receive the messages, then wait for the photos to flow in.
In case you're worried about how boring your photos from a year ago are, the service lets you pick other dates, ranging from one month to two years.
[Via the Flickr blog]