[congrats on the baby!!]
This is a feature I've been wanting for awhile in iPhoto [and the ability to add movie clips from digital cameras].
This one time, I scrolled thru an album with my father, and he accidently saw a photo he shouldn't have seen. [we'll leave it @ that ]
anywho, the ability to keep the photo in the album, but have it locked would be nice. and you would have to enter a password to view the photo.