Matching IP addresses to location in 'meatspace'

Okay, first of all 'meatspace' is the term that Internet junkies use to refer to that which is not 'cyberspace.' Or you could call it "the space formerly known as 'physical space.'" Anyway, I digress (and I haven't even gotten to my main point yet).

Ever wonder how you can map an IP address to a location in physical space? I was wondering about that, but then my friend Al Robert (of www.nakedownership.com fame) told me about this little tool. It can map you to a Country, City, or Zip Code. Even to a rough Lat/Long coordinate.