Microsoft Research demoed an impressive hack of their Kinect hardware at the Siggraph conference yesterday that was highlighted on TechCrunch. The research project uses the Kinect to map interior space, intuitively building a 3D model with texture mapping. A truly compelling element is that moved objects are updated in the model, and moving objects can be mapped in real-time. This research has some compelling applications for mapping and augmented reality, and it can all be accomplished with low-cost off-the-shelf technology.
You can view the video demonstration on the Microsoft Research website here.