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Thank you.  Tried it and this answered my question.

I wouldn't use spaces in my image names, just because they will get parsed out into "%20", and that will make the URL path longer and uglier. Option B is the better one of the two.  The most important thing to remember here is to just be descriptive.  You're already on the right path. Here are a few great articles on SEO for images.  I think you might find them useful: The Definitive Guide to SEO for Images (ZDnet) Image SEO Basics - Whiteboard Friday (SEOmoz)

It's not exactly 3 clicks... if you're a PR 10 website it will take you quite a few clicks in before it gets "tired". Deep links are always a great idea.

How big are you talkin' about? If you look at the wikipedia article for Philadelphia you will find a really long page.  I took the sentence for the Postal Service that appears at the bottom of the page and found that Google indexed it from wikipedia and many other websites - over 2/3 of which were omitted because they were similar. See SERPs Here. This tells you that Google routinely indexes content of that length.  You can try experiments for pages of even longer length to see how they are doing. I have a lot of long articles on my site (4000 words plus) and they pull a ton of long tail traffic.  And, I like these really long pages because I believe that the huge content impresses visitors and earns links. That's the SEO value of a big page in my opinion.