Photosynth, a new technology from Microsoft Live Labs, looks very cool. It's a bit difficult to explain, but it can take multiple photos of a place and build a 3-d model of that location using the photos. Then it places those photos back into the 3-d model so you can explore the scene using the photos. This video does a better job of explaining the technology.
At Eric and Christina's wedding, they printed out flash cards with vector art cartoon pics of each of them for a game we played during the reception. They used a technology from Microsoft Research that can create vector art from still photos. Also very cool, and hopefully something that will be released as consumer software in the near future.