Yes, our friends did it. They take your photo (took about 20 minutes for photo and paperwork). In 6 weeks they send you a copy and tell you where your photo is located. Sorry, I'm not sure of the cost.
We have annaul passes and the perk is buy once square get one free. So we had our pictures on one and a saying on the other. Total cost $25.00.
We did ours in May and when we returned in September, ours was there already.
My mom and I just did it in the beginning of March. It was $25 even (incl tax). It took about 3-4 weeks to get a copy of the pic in the mail and where it will be. In 6 months it will be up on the monument things at Epcot. The whole thing took about 10 minutes to do including paperwork and the picture.
You can either get a picture taken or have something written. My mom also found an old version (well, 2004) of the unofficial guide quoting the price as $37. I think they dropped the price to a) get more people to do it and b) because pretty much all of the obvious spots in the front are taken. I am away at grad school so I can't tell you exactly what the picture looked like. She said she got two copies and they were approx the size of the actual marker and looked sort of like a negative (ie how it will look when it's posted).