It's always better if the two students are around the same level, one reason we like our commercial, I/R and IMC students to pair up.
It also get you used to flying in front of somebody who isn't your instructor. This can be nerve wracking the first time, especially if the person has more experience, but you'll soon realise that most people are happy just to be in the air!
Getting photo's taken is a great idea as you can finally show all the long suffering friends and family what it is you spend all your time talking about!
If the chap is amenable, ask if you can go on one of the brush up flights he'll be doing before his test, that way you get to see what standards are really like and pick up a few hints and tips along the way.