Module maintainer @podarok
The Location module allows real-world geographic locations to be associated with Drupal nodes, including people, places, and other content. The Location module allows admins to collect addresses, geocode them (translate addresses to lattitude/longitude), and associate locations with Drupal nodes and users. Location data is automatically used to generate GeoRSS within your existing RSS feeds.
#1940818: [META] Location 7.x-3.2 release roadmap
#2127933: [META][SPRINT][Location] Documentation sprint
At present, it is the only module that provides the views integration necessary for implementing location-based searches and is designed for the purpose of finding points on a map within a vicinity of a user-supplied location. If you are interested in the presentation and manipulation of geographic data beyond points (e.g., lines, polygons, etc) I would recommend using the geofield and open layers modules.
Important location search change: For those using the location search sub-module, as of location 6.x-3.2 and 7.x-3.0-alpha1 users must have the "access content" permission and any relevant node access rights to see node based location search results and the "view user profiles" and "view all user locations" permissions to see user based location search results.
If updating from earlier versions and using location search, make sure to check these permissions.