Flickr also supports automated photo blogging to Wordpress. Would someone please be a guinea pig and try it out? I'd like to see what happens. :)
Anyway, it doesn't matter so much at the moment because until they get IPTC import working, it's not feasible for me to caption and tag every image. Tagging images using a web interface? No way, man. The forums are filled with requests for IPTC support, so I'm sure the dev team is hard at work on it -- especially because Picasa already works with IPTC. But Picasa is scary because the local application finds all of the images on your computer. *shudder* Yes, I realize that you can specify which directories Picasa will look in, but most serious photographers I know have complicated workflows that involve lots of temporary images and images that definitely shouldn't be cataloged. My workflow is like this, and I don't want any sort of automated cataloging.
I love talking about all of this stuff, but I'm definitely afraid of letting a third-party service have the responsibility of my image storage. Keeping everything local to echeng.com is definitely safest.