I note that the plugin photo2shape has been updated and it is as productive as the method discussed below. http://gis-lab.info/qa/photo2shape-eng.html

A major facilitator to the use of these methods now is the availability of cameras with inbuilt gps. There are at least two make/models of consumer camera available for a few hundred $ new and less for second hand which make the methods very accessible.

This solution uses third party software, most heavily relying on GeoSetter which is freeware. There is plugin for QGIS "photo2shape", it has been discussed in the various forums since early 2010. The GeoSetter pathway is appealing because it has a broader range of uses than just QGIS.

This page will hopefully improve, in the meantime the full content is captured in a pdf.

file_How_to_geosetter_eVis_view_geoloc_photos.pdf (PDF, 1.2 MB) (pdf is a stopgap until this is wikified..... feel free to wikify!)