This began as a meme created by dmmaus, and I've had so much fun with it, and so much interest I thought it should become a community.
Secondly it's a good way to relax and enjoy taking photos without the 'pressure' to take a good one. After all wherever you stop may not have anything interesting, or poor lighting, or something else that makes taking a good photo difficult. The idea is not to 'stress' about it, but just do the best you can.
Thirdly, it's a good way to stretch yourself and experiment with composition and your camera. I've found that doing this has 'forced' me to learn more about my camera, and about how to compose shots to try to get the best out of any situation.
Lastly, it's a different way of showing people where you live, where you work, or where you stayed on your holidays. By 'following' you on your walk it will give people a closer perspective of where you are.
Location, Type of Equipment (for example, Phillip, ACT, Australia - Pentax Optio 330GS)
Commentary on first picture
Commentary on second picture
Commentary on last picture