Press Record.

http://www.picasa.com/google/?promo=hpp1intl
No clue whether this is a paid co-branding or a true Google venture, but it's on my search bar and I fear change.
Picasa works with the digital photo files on your PC to create a better, more organized viewing and editing experience. Picasa will not delete or move the location of pictures saved on your PC.

EDIT: Google bought them. And it looks like there is a lot more on the way from the Goobleheads. looky http://kalsey.com/2004/07/google_on_the_desktop/

and this yesterday "search by name" http://www.pcworld.com/news/article/0,aid,116910,00.asp