Today I toyed around a bit with Photosynth and my Laputa robot form my Japan trip this summer.
Check out the results:

 
Photosynth using the given set of photos (right) automatically creates a panorama-like 3D environment.
Moving around you can discover the details of the place pictured by the uploaded images (middle).
The coolest feature is unfortunately hidden: pressing the control button Photosynth shows the recognized 3D structure of the place (left). It works unbelievably well.

Imagine this on a mobile device with a GPS, internet connection and real-time.
It could be an interesting medium.