What are the photo gallery/album module choices for Drupal 7?
An album essentially is a grouping of like nodes.

In drupal this grouping can be done a number of ways. I would suggest using a fixed taxonomy (not free tagging) for the album. This way views can list list all photos (nodes) from a particular tag and you can create thumbnails for instance for display.

You could also group by author for another group of nodes (e.g. 'my photos')