ddean - you have raised a good point, and one I intended to discuss before I went ahead on the work.
A corner watermark can indeed be cropped out, or if the person is skilled enough, editted out. BUT - With proper sizing and placement (eg, so that just cutting the watermark out will remove part of the object being pictured) a corner watermark acts as an excellent deterrant without obscuring the item in the photo.
A full blown ghost watermark is (in my opinion) quite obnoxious, and detracts from the impact of the image. It sort of punishes people who are legitimately browsing the HI site. The advantage is that it is so incredibly difficult to remove one that it's just not worth the effort -- more security!
I personally was thinking of doing just a slightly larger logo khuk with a nicer-looking font, as a corner watermark. Obviously, the final choice is up to whoever is in charge of the site. (Daniel Koster?)
I will make up a couple more sample watermarked images when I get home, and post them in a new thread.
A note to MauiRob and anyone else having trouble seeing my images - I am posting images via ImageShack... you probably have images set to load only for the originating website. If you allow off-site images, I think you will be all set to go.