Check out the latest version of Pro Photo Tools from Microsoft. It's free to download and play with. It's a set of pretty basic but useful tools enabling you to geotag and geocode your pictures in a very cool way: just drag in your image to the map and the GPS coordinates will be calculated automatically for you. Add a whole slew of other data to your image before saving it back to your folder. The product can also interoperate with Photoshop and has support for 64-bit Windows.
You can use Expression Media 2 to leverage even finer details such as three-dimensional maps to accompany your images. This gives you an amazing range of possibilities when it comes to torturing friends and family with the inevitable annual vacation shots... and don't forget the laser pointer ;-)
This version of Photo Tools still has all the original features (from the official site):
* Determine location name automatically
* Determine GPS coordinates from location name
* Identify location on a map
* View images on Windows Live Maps
* Use Microsoft Virtual Earth for a 3D view of the image location.
* Edit image metadata
* RAW support