Don't know about anyone else, but in photoshop, if you have it (both elements and cs4 will do this), I'd just use the type tool, click on the photo (this automatically creates a text layer) and start typing. When done, I could move the text into the exact position I wanted. On the layers panel, I'd change opacity to between 20 and 50%, then flatten the image.
On my photos, I'd do "©" (hold the alt key and type 0169 on the number pad) and then type my name.