Microsoft Live Labs: Photosynth

Straight out of Microsoft Live Labs, Photosynth should be a coming soon as a technology preview. This has got to be one of the more interesting projects coming out of Microsoft currently. It takes images (your photos) and analyzes the structures and how large things are relative to everything else. Then if you have multiple photos of the same area, it puts the photos together and maps them in a 3D space.
It allows you then to fly around the 3D space similar to Google Earth and navigate through a virtual world that was created through your photos. That changes the way photography will work since that means that the more pictures you take, the more you can recreate a 3D virtual environment!
While there is no download yet, there are some videos on the site and the team is trying to get something out for public use. Watch for this to be coming.
Via Photosynth