Experience with Google Analytics for Picasa Albums????

Just found out that Picasa Photo Albums track a total number of views of all your albums. Just out of curiosity, I would like to see the number of views for each album, what the source is of the views and what countries the views are coming from. Apparently Google Analytics can be activated for each album but it appears that there are some hoops to jump through.

Anyone gone through this process? If so, how has it worked out for you?

I use it for my blog and also for one of my albums.
Once it is set up it works fine and provides a good deal of info.
The 3 things you say you want to see for your albums is there.

When I setup multiple sites .... and/or sites withing sites .... It just takes a URL of the start page

Thanks for your comments! Now all I have to figure out from the Google Analytics instructions why my albums page isn't as they describe? I am guessing that the analytics will only reflect views going forward after I activate? Right now "My Profile" is indicating 244,106 views for all my albums.

Yes, you will only get stats after implementing the tracking code.
The primary data, ie. total hits, unique viewers is for your top level
Page views, avg time viewing, will be for lower level pages