frelaxx,
As the layer 2 frame is being "rebuilt" to encapsulate the layer 3 packet it will have the MAC address (or any other layer 2 address being used based on the protocol of the interface it is being sent out over) of the next hop in the "to" or destination area of the frame and it will have it's MAC address as the "from" or the source address.
IP addresses (layer 3) are used end to end, MAC addresses (layer 2) are used between each "hop" and stripped off as it is sent to another destination.
The above does not take NAT into consideration where the IP address would be changed as it is NATed.
Think of it as an inter office memo - it is put in an envelope with a desk location on it (packet) the mail room puts it in a Fedex overnight package (frame) and it is sent to next office (router) that router/office opens the Fedex package and throws it away and then if it needs to send the packet/memo to another office/router it must put it in another Fedex package (with that address) and sent out!
They might change protocols and send it UPS in which case it will have to be in a UPS package (frame) such as a message going from a LAN to a WAN.
Hope this helps!
E.A. Broda
CCNA, CCDA, CCAI, Network +