The ZYX Precise Places Plugin is a plugin based in the ZYX Term Meta framework (currently under development) which manages geographical and place-related terms. So, you can —for instance— assign longitude and latitude to a term. It also has an advanced tag list function, which is able to describe "a table in the living room of a house in Palau de Plegamans, Catalonia, Spain, European Union, the Third Rock from the Sun", using metadata to store the cases of genitive and locative.
It has some things in the wishlist, like integration with Google Maps, microformat tagging and better size/location support.