From an SEO perspective, having those tags visible will help the keywords match up with search results. Doing it in good taste, however, is a pain in the ass.
http://www.dailymotion.com/ has visible tags that have an artistic look to them. YouTube puts them in description in a matter-of-fact way. I've experimented with placing them in a fixed-width DIV that is scrollable below my blog entry --
http://steveawesome.com/adult-webmaster-blog/004079.php -- I'm certain having the tags there will help you out in the long run. However, making sure that they are relevant to your page is what will make you or break you.