I recently went to a wedding where there was a photobooth. The couple had just rented it for the night with unlimited photos. They just asked that you cut one of the photos off of one of your strips and put it into a scrapbook with a message for them, so they could see the fun their guests were having.
It was a lot of fun. The machine was VERY old and messed up a few times, but people would stand in line waiting because they wanted their pictures made.
I decided to look into it for our AHR, but the prices I found locally were well over my budget for something like that. Something like $1,000 for a few hours. FI said that he would figure out a way to do it ourselves, but we shall see how far that goes
But I say...if it is in your budget, your guests will love it!