With texture support in Mathematica 8.0, we can create the simple DEM with image overlay by combing the functions from two previous posts Google Static Map and Google Elevation API.
However, there is the usage limits on Google Elevation API. You’d better pull the dem once and export the data, otherwise, you may hit the daily limits very quickly.
Here is an example on displaying earthquake data with the dem, the red line outlines the fault plane.