The GPS problem can be solved with a GPS datalogger and software. Basically you make sure that your camera's clock is set to the same time as displayed on the datalogger (check your timezone) and then make sure you are logging coordinates whenever you're shooting. The software on you computer will then add the coordinates to the photos by comparing the photo's times to the logged track data from the GPS.

If your camera has GPS facilities baked into its firmware then you might be able to buy a GPS attachment from Oly.

I do however suggest you shoot straight raw and forget about JPEG+RAW. This has nothing to do with GPS of course. I suggest this because I tried the same thing myself and realized that the JPEG images were just a big waste of time and space. If you're using a decent photo manager already, it's easy enough to output JPEG images whenever you need them at whatever resolutions you want.
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Bruno
Twisted Melon : Fine Mac OS Software