I’m interested. I’m not sure how locations should be entered. Some thoughts:
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Automatic recognition of addresses in text would be ideal, I think, if it’s practical.
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Automatic recognition of geographic keywords (cities, neighborhoods, businesses) from a list maintained by an admin. That would be great for some sites (like mine) and impractical for everyone else.
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Fielded entry of addresses or lat/long pairs is the least flexible, but the easiest to implement & maintain. It would result in fewer defined locations than automatic recognition and would mean that each entry would have location fields that might be left empty in most posts.