Video Trace - An application which will allow you to trace an object from a frame in a video, scrub forward in the video clip, trace some more, scrub some more, etc. Until, Eureka! You finish with a 3D model, already textured and everything. In the demo video (see below) an example of how this can be used on the fly is illustrated. The speaker traces a Jeep, pans around it, then duplicates it into the parking space next to its self and crushes it with a rock. Simple as that. What more could you want? Admittedly the application is still being developed, but if this is how it looks in its early stages; I can't wait to see it completed.
Currently the team needs more programmers and lots of money. Lot and lots. I'd print some off and send it, but my printers broken.