i've always been surprised that nobody looked into this more. i'm assuming most of you have seen
www.tinyurl.com, it would be very very easy to make something like this so you can track watermarks.
obviously no surfer is ever going to type in
http://www.cockgag.com/123456/12/1/a/ *but* you probably could get them to type in
http://ade.cockgag.com/ just as easily as they would
www.... you'd have about 20k different users or what ever you wanted to track before you even need anything longer than just
www.
if i ran sites myself i'd have set this up a long time ago, or even just runnign tgp's, the small amount of effort required to watermark your pictures differently per campaign or whatever is negligible and you might just learn something useful and have a reply (or not) next time somebody asks this.