A better way to do this is:

Photo - is not - Tagged with GPS

I also added a keyword for photos that don't have a place, so I can add it to photos I don't want to show up in my smart album of photos to be geotagged.

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I have numerous photos in my database that have no geodata. In fact I am in the middle of importing scans of slides taken in the '60's long before GPS existed. This would be a mess unless you add another condition (a date threshold, event name, or tag them) to mark them as something that should be excluded. This may be an acceptable solution for iPhone pix or photos which have geodata added via embedded GPS or external GPS. At best the is alternate way of handling this - certainly not a better way. Cheers.

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The end result of the two methods would be exactly the same, correct? Or does the latter only exclude ones that were tagged using a GPS device (not manually tagged)?

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