We do have access to the EXIF data in submitted pics. It would be a one-hour job to use the Google or Yahoo Map API's and put together a mashup.
I personally have the advantage that i'm pretty good with mapping - when I was younger I worked for a stint at a map book company that published road maps for major US cities, part of my job was to work with the raw street data we'd buy and get it into a 'pretty' format.
The question is, what is the business value of geotagging photos? Is it something buyers care about?