Finally an application that I was long looking for. I used to use sportstrack application on my N95 to log my GPS tracks and use the logging data for photo tagging. There did not seem to be any equivalent application on the Android.
The application My Tracks solves these problems, one can start the application and it will log all the GPS information. I find the application simple. At the end of the track recording the application would upload the track to google maps and google docs. One can use the data for any purpose after that.
The application also provides option to log statistics while the upload of the track and one has access to this data also on the google. The application can run in background and in limited use that I have done with it, did not seem to overburden the battery.
The application has features of exporting maps via KML files or GPX files which comes handy since I use gpicsync for photo synchronization. The only strange things is that these options are buried under "Share with friends" option. I can live with that.
I would recommend this application to pretty much everybody.