I have been waiting for this day. Microsoft has publicly released Photosynth, a way of combining conventional images to create 3D scenes. After you upload a set of images, the software analyzes each for similarities to the others, and then it uses this data to build a model of where the photos were taken. A viewer can then browse through the final photograph, navigating smoothly and zooming in tiny details.
Try it out at Photosynth.com.