During an interview with CNET News, PortalPlayer's CEO, Gary Johnson, almost reveals a feature that could be added to the next iPods.
Although he doesn't clearly say the iPod photo will be capable of transfering photos directly from a digital camera, Gary Johnson claims the chip his company is making are able to do this:
"There are already plenty of MP3 players on the market, including Apple Computer's iPod Photo, that can show digital photos while playing music. But soon, we are likely to see music devices that can download and display pictures directly, without using a computer as a go-between.
Current iPod photo can display pictures but requires an accessory to transfer the pictures from a digital camera. Direct transfer from a digital camera is probably one of the most requested features for the iPod photo. Let's hope the current iPod photo will also be updated to get this feature too.
If the feature really appears in the future, it will at least require a little adapter to be able to connect a USB cable on the iPod though. This adapter already exists and costs about $20.

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