Photo+Map 1.1 has been approved on the AppStore on sunday evening. As indicated in my previous post the main changes in that version is to support the 3 mega pixel camera of the iPhone 3GS, so you can now save your photo at their maximum resolution of 2048x2048.
While I was on vacation in the South Pacific I did verify that Photo+Map worked as expected... Interesting enough I discover that Yahoo Maps! does not necessary have all the appropriate details for the close up map. See the Photo+Map below.
The first map has you can see does not have too much details, but the second one is showing enough accuracy that at least you get an idea of where the photo was taken.