typhoon - 8:22 am on Jun 8, 2003 (gmt 0)

Don't think of the alt tag as an area to stuff keywords. That is not its purpose. It is there to describe the image. Short brief descriptions are suggested. For example, a picture of a platinum widget... <a><img title="Platinum Widets Information" width="72" height="72" alt="Picture of Platinum Widget."></a>

It's worth mentioning that you should wrap your ALT text in square brackets to set it off from the rest of the body text in text-only browsers like Lynx (or even in Mozilla with the images off).

But yeah, there's definitely room for both ALT and TITLE since they serve fundamentally different purposes.